SPY Forecast 4/12/16

The S&P 500 index proxy (SPY) continues to trade without sponsorship and the odds are about 55/45 at this time. There is a slight bias towards a bullish breakout, but nothing that would attract us to this market. We were expecting to be able to take short exposure this week, but our indicators never lined up, so there was no action to take

We will on the sidelines for this index until that bullish energy can dissipate and the odds shift in our favor.