BobbySpa

SPY - time to visit bottom of channel?

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
Market struggling here as it should. MACD turning over and clear RSI divergence while market making new highs. A sustained breakout above the FIB 2.612 would truly be irrational exuberance at its finest! No good reason to go any higher but who knows with this market. This looks like a look out below scenario to me.
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