SPY breaks another upward trend
SPY has broken two upward trends in this recent rally giving less momentum each time it breaks
We may expect SPY to trade flat for a little bit of time in the distribution phase of its rally cycle, before the bears take hold.
- Ended old upward rally on Sept 23, going into new rally with reduced momentum
- The latest rally has now been broken again
- MACD very close to going into a bearish sell off
- RSI breaks below the 50 line
We may expect SPY to trade flat for a little bit of time in the distribution phase of its rally cycle, before the bears take hold.
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