SPY Daily, possibly head and shoulders bottom forming.
This is the SPY daily with the Cash in/Cash out report set to 10 on the input. This means the indicator and chart are showing 10 rolling days of sums of cash into and out of the market. There have been more positive days than negative and a possible head and shoulders bottom appears to be forming. However, the price is still within the negative trend channel. Pay close attention to price action where trend lines collide. For now, I am neutral on the SPY. I believe there is an inflation report coming out tomorrow, let's see what happens.
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Good luck friends!
The Cash in/Cash our report is a free open source indicator here on tradingview. If the indicator gets 1,000 likes it will become a free iOS and Android app. Give it a like if it makes or saves you money!
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