S&P 500 ETF (SPY) 009-12-10

Friday’s up move clicked the pressure indicator from down to up.  The problem is that is still divergence at the top and with all the upside pressure price hs not been able to close above the 200 day moving average or take out the key previous high.  With a close of 111.48 there seems to be a lose of momentum for the up move .  For Price to start a move down it would have to go through 109.44 and then the first price objective would be 107.20.  The next price objective for the move higher would be 113.35.  The indicators on the lower time frames are all over extended.