• 326 days Could Crypto Overtake Traditional Investment?
  • 331 days Americans Still Quitting Jobs At Record Pace
  • 333 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 336 days Is The Dollar Too Strong?
  • 336 days Big Tech Disappoints Investors on Earnings Calls
  • 337 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 339 days China Is Quietly Trying To Distance Itself From Russia
  • 339 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 343 days Crypto Investors Won Big In 2021
  • 343 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 344 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 346 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 347 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 350 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 351 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 351 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 353 days Are NFTs About To Take Over Gaming?
  • 354 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 357 days What’s Causing Inflation In The United States?
  • 358 days Intel Joins Russian Exodus as Chip Shortage Digs In
Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  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