• 22 hours Is A Global Currency Necessary?
  • 2 days America Has Shed 500,000 Millionaires Since The Coronavirus Lockdown Began
  • 2 days Trump Wants Another $2 Trillion Economic Intervention
  • 3 days The Surprising Businesses Deemed “Essential” During The Coronavirus Lockdown
  • 3 days Priceless Van Gogh "Spring Garden" Painting Stolen
  • 3 days Oil Falls To $20 For First Time In Nearly Two Decades
  • 3 days COVID-19 Could Be The End Of U.S. Coal
  • 4 days How Much Does Your Social Security Number Cost? $4 On The Dark Web
  • 5 days Silver Stocks Have Been Decimated In The Coronavirus Sell-Off
  • 6 days How Blockchain Tech Could Make Mergers And Acquisitions More Efficient
  • 6 days America’s Shortage Of This Metal Keeps Trump Up At Night
  • 7 days Bidet Bonanza: Defying The Toilet Paper Shortage
  • 7 days U.S. Auto Sales Fall By 75%
  • 8 days Violating Quarantine? Big Brother Is Watching
  • 8 days Does Gold Still Have Some Room To Run?
  • 8 days Major Acquisition Gives The World’s First Green Ride-Share Another Edge
  • 9 days U.S. Pushes For Digital Currency For Immediate Stimulus
  • 9 days The Impossible Challenges Created By Growing Population
  • 9 days Gold Skyrockets After Fed Pledges "Unlimited" Cash To Boost Economy
  • 10 days World’s Richest Lose $1 Trillion In Stock Market Rout
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Joseph VanDerveer

Joseph VanDerveer

Joseph VanDerveer is the Chief Technical Analyst with 8 years experience in the trenches trading the markets with a brand new website and service

Contact Author

  1. Home
  2. Markets
  3. Other

Spy Kiss of Death?

Everyone wants to now what that market is going to do next. Most technicians I talk to are Bullish and that makes me nervous.

But not really, since I have had these dates for a while using my own proprietary cycle analysis.

It plain old sucks being on the wrong side of the trade, that is for sure.

Below is a simple daily chart of SPY that has a few comments to take notice.

I just want to point out the Daily Bullish divergence on the rsi 5 oscillator is GONE, although volume was lower today which is Bullish, but then again, maybe not.

The reaction from Brexit may have overshot the first volume day by a bit, so it could be out of sync.

The lagging MACD indicator on the bottom might have just given a kiss of death, at the same time SPY just tagged a lower high, ooops.

We also just made a lower low on the chart from the recent 5/19/16 low which was a sweet reversal to the upside.

Daily SPY Chart

Its hard to be a buyer long term, specially when it is so easy hitting 10% a month.

 

Back to homepage

Leave a comment

Leave a comment