First thing I notice is that the volume has been declining in $SPY, a lack of volume to me, means a lack of participation. 2ndly price fell through the 9 day EMA before closing right on top of it. The doji at ATHs, which is resistance, usually indicates a trend reversal, The RSI and Stochastics are in bearish postures, and the Sniper fired a sell arrow on the previous candle, these discoveries suggest a bearish trend.
