Hello Overbought

Futures are pointing to nice green open(as of 7:30) due to the fact that Intel lost money but beat "analyst expectations".  These are the same analyst that told you to buy in 2008.
To put what happen in real life terms, this means you go out to the bar hoping to make out with a 2 and you make out with a 4.  Did you really win?

So now the markets a poised to open up, on the SPX 60 min the market is already in an overbought condition and another few points up will add to that. RSI is almost above 70 and Stoch is almost into very overbought.  Notice the MACD historgram though how it has been declining, hmm divergence.

The purple line is the real key, if that breaks the newly established downtrend is now broken and the blue uptrend line drawn on Monday takes precedent. 
Here is that downtrend line on the daily.

I am looking for a pullback from these highs, I think we could see a choppy market for the next few days as Market Markers try to keep SPX around 910-912.  SPY Max pain is 91.

$NYMO which I mentioned on Saturday was showing some bullish divergence, now it has broke above zero( a buy signal) and has broken above its downtrend line from March.

If NYMO can stay above zero it would be bullish for the market.  Other indicators appear to be getting bullish

 $NYAD- So far the 39EMA has been a buy signal and the level it is at right now has been a sell, look to see if NYAD can break above its prior peaks.