|Simple Trading Ideas||
The daily chart below shows SPY, the SPDR S&P 500 ETF representing the Large-Caps. SPY was overbought recently as you can see in the indicator window above the chart and it's not a surprise if SPY moves lower or sideways in the short-term. MACD also looks like ready to cross below the signal line. For the next support level we can use Fibonacci retracement levels, most likely the 50-62% levels and the 187.60 level (red line). SPY crossed this level several times during the past couple of months.