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The latest from the OptionsHunter session 07/13/2009

SPY -   Price is ahead of the indicator and downside divergence with MACD with rollover in the middle of June.  Could've made money on puts. Price is now consolidating sideways, if holding puts, take look at hourly, if strengthening it will put a hold on downtrend for the short term, but this doesn't mean the downtrend is over.  To confirm on this check the short fund, SDS.

HES  - showing consolidation on hourly, had a series of bottoms on price, but not on the indicator, any puts should be exited by now.

Lumber group - has good upside potential.  PCL - daily upside divergence with close to a Double Bottom, if market forces continue to the upside, this could easily go through $30. WY - has some upside potential.

Semiconductor group - AMAT - technical strength is building.    NVLS - could go to $20 if market turns up, based on technical strength.

CME - daily pretty weak, but starting to lose momentum because hourly has divergence and moving up, this creates an opportunity especially during expiration week.