Earning start next week.
The SPY is in a down channel with issues to brake to the upside yet. And we are still in the procces of lowering the long risk for the market. Little by little we see more data that is pushing me to be more neutral.
The large players GOOG, AMZN, PCLN are not doing great technicallly and I could see large players taking risks off the table.
Bellow you can find the charts and trend channels