Possible H&S Top on SPY?
While just a theory for now, facts like RSI not confirming new highs, mkt leaders (TSLA, AAPL, NFLX, Biotechs, etc.) under recent distribution and sentiment at/near record highs are indisputable. Throw in BABA euphoria and massive supply and one could argue (technically and via sentiment) that makings for a top are there....TBD of course!
While just a theory for now, facts like RSI not confirming new highs, mkt leaders (TSLA, AAPL, NFLX, Biotechs, etc.) under recent distribution and sentiment at/near record highs are indisputable. Throw in BABA euphoria and massive supply and one could argue (technically and via sentiment) that makings for a top are there....TBD of course!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.