So far, the pivot lows after the first half-hour of trading have not triggered powerful thrusts into new high territory in the major market equity ETF's, which is a preliminary indication for me that perhaps the profile of the bull is starting to change (weaken)?  Let's take a look at my updated near-term chart of the SPY.

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.