Falling wedge weekly with a bullish RSI divergence
Positive price divergence with MACD and RSI indicators. Playing long to the upside of the falling wedge channel, roughly coinciding with the 50-day MA.
Maintaining uptrend after bouncing off the 50-MA, with a move today above the 20-MA.
Above 200-MA, breaking out of short term downtrend, back above intermediate term support.
Breaking downtrend, over the 20/50-MA. Watching for continued strength and break of consolidation out of the massive rounded bottom.
Inverse head and shoulders pattern with successful test of neckline suggests higher prices ahead.
Stochastic indicator is oversold and crossed positive, but is curling back down slightly. RSI and MACD still pointing down. Gap to fill at around 203.71 coinciding with the intermediate-term downtrend line, if SPY makes it that far. Short term long only within a short/bearish medium term outlook.