June has been a tedious month for the market with SPY being confined mostly within a three point range. I can’t help noticing the rounded shape of June’s price activity, which makes me think we may be seeing a rounded top leading to a period of falling prices. Ha! How refreshing that would be, but the bull market has been very stingy in that regard. Nevertheless, the PMO SELL signal for SPY says there is a chance of some bearish action.