SPY has broken two upward trends in this recent rally giving less momentum each time it breaks
We may expect SPY to trade flat for a little bit of time in the distribution phase of its rally cycle, before the bears take hold.
- Ended old upward rally on Sept 23, going into new rally with reduced momentum
- The latest rally has now been broken again
- MACD very close to going into a bearish sell off
- RSI breaks below the 50 line
We may expect SPY to trade flat for a little bit of time in the distribution phase of its rally cycle, before the bears take hold.
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Related publications
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.