here are the closing daily charts for the SPY and QQQ. both made modest gains on below average volume today and remain at key technical levels. i was finally able to up load the video that i made last night discussing the bigger picture view of the SPY and since the markets didn’t do much today, i am still keeping things light right now in a wait-and-see mode. keep and eye out for a solid break above today’s highs in the SPX and NDX. the markets are overbought on most time frames so even if we get a break-out on increased volume, personally i will be waiting until at least next week before establishing any new long positions. i will try to update the existing trades and set-ups later tonight and add some new trade ideas over the weekend.