SPY has an inside bar to be watching Tuesday on the daily time frame after being in a range between $270 and $274 the last several days. A break of $272.86 would be a bullbreak, while falling below $271.58 would see a bearbreak with consolidation. The bulls will want to close above $274 for a bullish signal that there will be more followthrough, while the bears would need to close below $270 for short term consolidation.
Daily Chart:
On the weekly timeframe SPY is holding the support of our 4 and 8 EMA's as well as the backtest of the middle Bollinger band.
