Bearish Megaphone Pattern , with Negative Divergence !
SPY is in a Bearish Megaphone Pattern , with all the Key Market Breadth & VOlume Indicators showing a negative Divergence with price. I will go short on a support breakout, aiming for the lower trend line of the Megaphone pattern. A strong weekly close above the current Trendline of the Pattern would negate the Trade ! I'm Bearish for now.
These Indicators are showing negative divergence after 3 years with the Bull run, So They cannot be ignored & Is a big Warning Signal. !!!
These Indicators are showing negative divergence after 3 years with the Bull run, So They cannot be ignored & Is a big Warning Signal. !!!
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