Looking for Price to Revert Back to 50-day SMA Mean
It appears that
SPY
has reached an excess high. Additionally, traders should also be aware that the 50-day SMA has fallen below the 100-day SMA (bearish signal). Furthermore, bull rallies that are made on declining volume generally provide a more quality trade setup to the downside. Lastly, traders should also notate that the 14-day stochastic indicator is also giving a strong overbought reading at 93.81.
SPY
has reached an excess high. Additionally, traders should also be aware that the 50-day SMA has fallen below the 100-day SMA (bearish signal). Furthermore, bull rallies that are made on declining volume generally provide a more quality trade setup to the downside. Lastly, traders should also notate that the 14-day stochastic indicator is also giving a strong overbought reading at 93.81.