Indices have had a nice rally since mid Feb. Even though daily candle is massive and bullish, MACD is rolling over and previous day was rejection. And in broader market context, it is due for some correction. Fundamentally, US data has been poor at best and with earnings season starting next week, this could be a rough start but who knows.
Things could get...
Uptrend for short period. Likely to get rejected 2080 area.
See a "W" forming. broke through green MA but could fall back. MACD also shows bullish but that's a given.
This would also be Christmas rally.
SPY finally approaching area of resistance, hope to see rejection to short. Been waiting so long
And if it breaks 211 area, have to wait for confirmation that it stays above that so don't long immediately.
Let me know any ideas.