26 Jan 2015 - A Weak MACD

There is nothing different in the indicators today.  But what seems to stick out from todays price action is that there are a few indicators that are looking weak.  One that I can mention is the MACD on the daily chart.  Since the mid-month rally to the present day the MACD has still stayed relatively subdued and under the zero line.  This in my eyes is bearish, but the coming move will be the factor.

Currently the SPX is hugging the underside of the played-out green dotted line that I have been showing for quite a few months.  I believe bears / bulls need to overcome this line. 

With all these analysis, I would suggest that any trade to the downside would need us to see the ST turn down.  For the bulls I would be inclined to put a trade in for a long position if the price breaks above the dotted green line and an OB signal on the indicator.

MT: DOWN
ST: UP
PA: NA