Looks to be a divergence forming in the SPY
/DIA chart between purchasing volume
and valuation. Stoch
is also approaching overbought but RSI
is still within a good limit. Could indicate a coming pause in the cycling of the market after the recent upswing in value/non-tech companies. Could be a good time to get into some value companies or to check your charts for the same divergence and hedge or short if it makes sense.
Similar divergence found on the daily SYF
, and KHC daily charts
. All three are also reaching overbought levels in either the Stoch