Intraday selling
While weakness during the day isn't anything new, the last 7 days have seen buyers step back from the open. Each of the past 7 sessions has seen the S&P 500 tracking fund, SPY, trade lower from the open to the close. That's just off the record of 10 straight days. It's tempting to assume that it means buyers are exhausted, but the few precedents don't show a lot of support. Of the 6 signals, 4 showed some weakness between 1-8 weeks later, but overall it wasn't exactly a bell-ringer of a top signal.

