Based on technicals, SPX is now in overbought territory and is due for a pullback....However, the bulls are trying to push their way above a key resistance zone between 940 - 949. I didn't use SPY because the data is not that accurate.
As long as price action stays above 200 MA, the bullish scenario is still in play and the next target if there is any breakout will be 966.
The Russell has more wiggle room than the SPY, small caps are easier to manipulate...perhaps that could be the reason.
If this market continues to whipsaw, you wanna focus on one stock at a time.
NKE is setting up to be possible short....if it gaps down then there is nothing much you can do...lol. I do see some dip buying at the end of the day as well...so it may try to get above resistance.
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