February 25, 2009 (FinancialWire) (By Frank Kollar) -- Shares of the S&P 500 SPDRS (AMEX: SPY) have now lost 14.2% in year 2009. After a huge selloff on Monday, February 23, the SPDRS rallied on Tuesday. But the rally had some suspicious technical characteristics that point to continued trouble ahead.

First, it was an Inside Day which means the trading range was less than the previous day's highs and lows. Inside Days are ones of indecision. Even though most of Monday's losses were regained, there was no breakout rally.

Second was the performance of the CBOE Volatility Index (VIX) which declined twice as much as it gained the previous day. This shows a remarkable decrease in fear levels in only one trading day. For contrarians, this is potentially a bearish indicator.

The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy has a position in the S&P 500 SPDRS.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.

Kollar's research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.

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