$SPY : Searching for direction

SPY jumped yesterday above the gap resistance with healthy gains in the other markets especially the small caps (IWM) again putting up a stellar gain of 4.92%. WTI oil is somewhat stabilizing which is supporting the beaten down energy names and banks who loan to this industry.

Looking for SPY to digest its gains at this level.

ES futures are down -18 handles after horrendous European data. On the other hand tech heavy Nasdaq NNQ futures is up about 12 handles on the heel of perceived good earning from the likes of FB, TSLA, MSFT, etc.