SPY shows signs of topping out
SPY hits all time high throwing multiple signals that the rally is coming to a close
We should expect to see a reversal in the near future. The best move to make right now is tighten up stop losses and keeping watching for more bearish signals.
- Following long term trend, we see we are at same resistance as July hit before reversing
- declining volume as recent rally continues gives a bearish signal
- OBV remains flat while price hits higher highs through out September and October
We should expect to see a reversal in the near future. The best move to make right now is tighten up stop losses and keeping watching for more bearish signals.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.