Yellow flag
SPY closed down 1.19% yesterday.
Tech mega cap index, QQQ. got slammed for 2.61%
MSFT, TSLA, NFLX earnings were good but they got sold anyway.
Frothy valuations I guess.
SPY RSI has diverged. Price made new high but RSI made lower high.
Short term RSI trendline is undercut.
Mom squeeze indicating caution due color change.
Expecting sideways movement with slight down bias in price.
ES futes are down 10 handles of now suggesting SPY down open ny 0.33%.
Tech mega cap index, QQQ. got slammed for 2.61%
MSFT, TSLA, NFLX earnings were good but they got sold anyway.
Frothy valuations I guess.
SPY RSI has diverged. Price made new high but RSI made lower high.
Short term RSI trendline is undercut.
Mom squeeze indicating caution due color change.
Expecting sideways movement with slight down bias in price.
ES futes are down 10 handles of now suggesting SPY down open ny 0.33%.
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