hobo4000

SPY Bearish Divergence

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
A bearish divergence forming in the SPY daily chart . Supports other posts looking at a head and shoulders in the chart, which I personally don't see. Either way, a few red days may be coming. Not necessarily a full correction tho. I have cash on hand to buy at some decent discounts and hedges in place (puts purchased with premiums from covered calls) where the company's chart shows indications of a dip coming.

Recent break down level below the established trend line may be retested.

Also supported by my post yesterday about the divergence in the SPY /DIA combined chart.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter