$SPY Weekly New ATH But Bearish Pattern targeting 295

16 Kas 2019

Weekly chart still showing negative divergence with RSI and MFI compared by top of previous year and even top of early 2018 where all indexes were extreme overbought but now we can see that RSI still in range of 60s and MFI keep falling down despite last week top also stochastic remain high and ready to reverse at any moment.. i plot too patterns but both of them are bearish targeting lower than Sep bottom or at least 295 -294 which should be good support to continue long run .. from other-side volume of last 4 weeks is very low compared by previous tops and need to pullback to get some support and let fresh money to get in for long run otherwise it will reverse back with high selling volume at once ..