SPY daily.
Reading my chart ...
CTM up.
Bollinger pushing the outside of the envelope, up. But the body of the Bollinger is still flat.
Elder bars. Up.
Hella bullish bar today.
EMAs 50 and 100 flat.
EMA 20 turning up.
Trendline since March 13 is up.
Volume very strong at the bottom in mid-March, and again one week ago, and today.
MACD crossover up, above zero. Signal line up, but beneath zero. Histogram up and above zero.
Sto up strong.
The price action on the way up was choppy, except for the last three days.
Close 409.39 today. 416.72 is the high of February 2nd. Not a lot of room left for the move up. It is almost there, and could even be reached in a day or two. And I do not think it will go busting through resistance.
Conclusion for this trader ... The odds favor bullish action for SPY to the top. There is some room left on the way up, but this trader will still be mostly day trading the index futures and index ETFs without overnights, with some overnight holds on some stocks and some funds. It is not the strongest situation for the bulls, and the market has been very unpredictable for a long time.
QQQ has already reached a new high. A pullback might be in order, and that would weigh heavily on SPY.
Just in my opinion.
Charts posted are not recommendations. They are just a sharing of information.