quick Idea: SPY just has a massive rally with no pullbacks and was not able to crack the previous high (yet). It's a risky short but price is resting below the 200MA on the 1HR so has not completely broken out of resistance. I see this playing out as a ABC correction with ~370 as the C wave completion.
Algo GZ + high EW probability area +1H Vegas waves + Oscillators OK + Volume OK
2H bearish divergence on the RSI. Currently at the trend-line.
S&P 500 CFD (4H) / Bearish (Primary) & Bullish
Bearish Divergence has been on RSI and Fisher for a long period of time. A newer shorter term bearish divergence has also appeared within the larger one. Entry I look to enter on a test of the previous high. Stop is at the R1 for the monthly and also would break the trend line for the tops trend line formed. Holding past the 50 week EMA is risky as it is strong...