In Like Flynn

Daily Lens

Bullish:

• Back in the channel.
• MACD in boss mode. 
• RSI >50 sloping upwards.

Bearish:

• Declining volume
• Nose bleed Stokes
• 50 crossed 100.

When the head and shoulders top didn't pan out, it's been a strong rally higher. A failed technical pattern is probably one of the stronger momentum trades/signals I've noted. 

NFP tomorrow and no POMO.

Reminder of macro indicators rolling over:

• NYSE new highs not confirming market new highs.
• Margin debt 2 month consecutive readings lower.
• 30 year yields vs SPX divergence
• USDJPY (carry trade) monthly MACD has crossed, the trend is weakening. 

http://www.financialsense.com/contributors/cris-sheridan/tracking-peak-corporate-profits

BONUS CHART: GDX