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merkd1904
Sep 27, 2019 7:43 PM

Descending wedge and bullish divergences on the 1H and 2H 

SPDR S&P 500 ETF TRUSTArca

Description

Falling wedge and bullish divergences on the RSI. In general this should play out to the upside as much as it pains me to say it. The RSI divergence starts to wash out at about the 4H and is definitely not there on the daily. AND keep in mind SPX and ES did not fill the gap today. There's a dislocation between the SPY and the other two based on the dividend they paid last week.

Still net short on a swing trade, and not holding a long over the weekend. But, since the market has the memory of a goldfish and we open higher i will hedge accordingly.
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