• 8 hours America’s Workforce Elderly Workforce To Double By 2028
  • 14 hours Toyota Tests Solar-Powered Prius
  • 1 day Why The Gold Rally Flatlined
  • 2 days The Uranium Sector Can’t Catch A Break
  • 2 days Upcoming Fed Meeting Has Investors On Edge
  • 3 days Global Gold Sector Outlines Responsible Mining Principles
  • 3 days China’s Giant Vampire Fund Loses $120B
  • 4 days McDonalds To Roll Out Robot Drive-Thru Clerks
  • 4 days Savvy Investors Are Betting Big On This Little Data Company
  • 4 days How The Government Is Wasting Tax Money This Year
  • 5 days Supply Concerns Halt Expansion On Tianqi Lithium Plant
  • 5 days The World’s Biggest IPO Is Almost Here
  • 5 days The Relatively Of Money And Happiness
  • 6 days Wall Street Unfazed By Recession Fears
  • 6 days SoftBank Urges WeWork To Pause IPO Plans
  • 6 days Anti-Aging Market To Hit $55 Billion
  • 7 days JPM, Morgan Stanley Take Advisory Roles In Aramco IPO
  • 7 days Are Bonds In A Bubble?
  • 7 days The Unknown Media Giant Taking The World By Storm
  • 8 days From Millennial To Millionaire With One Simple Trick
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

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