sunny

SPY's RSI coming up for a test

BATS:SPY   SPDR S&P 500 ETF
159 3 0
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No, I use similar indicator scholastic, macd. They are lagging indicators. Price action and trend lines I rely on more. I can detect price changing and breakouts before indicators. I like to keep it simple. In a nutshell, I use to confirm after my analysis on hourly, daily or weekly time frame, since I don't day trade intraday.
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I'm watching the vix and the spx. here is what I see for spy
snapshot
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it's the last 20% bull run for this bounce, so RSI is close to the trend line. It's also divergence which indicates a major down turn is coming

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