chart: SPY 240min

Courtesy of eSignal

From November 2015 to today a certain pattern has been repeating.  These patterns have been highlighted in the chart above.  During the start of a pullback the market got OS as indicated in the middle window and a sell signal occurred in the bottom window.  As the OS condition worked itself of and then became OB in the middle window, while still on a sell signal, the market sold off again.  This was also accompanied by red price bars in the top window and a break of the blue trend line.

The green circles indicate where this pattern "may" be expected to happen again.  A break of the blue trend line & a price bar change from blue to red must occur for this pattern to repeat !
 
The sell offs, indicated by a red arrow in the top window, lasted between a couple of days to a couple of weeks.

Picasso's dates from the February 21,2016 post:
2/22H
2/25-28L
3/1-2H
3/15L

If Picasso can be of any help here, the SPY "may" become OB in the 3/1-2 +/- time frame and then a pull back might be expected in to the 3/15 +/- time frame.

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This has been posted for Educational Purposes Only.   Do your own work and consult with Professionals before making any investment decisions.  
Past performance is not indicative of future results