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SPY: Help! I want to go up!

|Includes: Sparton Corporation (SPA)
Analysis for short term option trading!
Technically Speaking-
Direction- the SPY is moving in a bearish trade zone.
Bollinger Bands- the ETF SPY touched the bottom of the band started top move up. Presently it looks like it is contracting and should bounce off the bottom of the bands and start moving up. That little bottom ‘v’ shape on the band was caused by the early gap up before it was filled. It looks like we still have a desire to move up.
RSI- the contracting we see in the SPY is the result of the positive divergence I have been writing about for the last week. We now want to see where we are going. There is weakness in this last down turn. As you can see, the lows have just been below ‘50’ and that means it is not a very strong move down. The SPY has a hunger to move up again as it contracts deeper and deeper before its move.
MACD- the ETF SPY can be confirmed here that the move down of late has not been very strong. We are barely below the ‘0’ marker. And we can see a small confirmation about the desire to move up. It looks like the lines are ready to make a turn north. Even the MACD Histogram does not look bearishly strong. These are all confirmations of the struggle the SPY is having right now choosing its direction as it contracts.
Chart- the SPY is still contracting and we are waiting to see in which direction we are going to break out. This short term trading move should give us a sign on where to trade next. We fillede a small gap at open and never took off.

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