Technical Bounce After Friday's Bullard Spook

٢١ يونيو ٢٠٢١

After a rocket-like rally on Monday morning, we're now drifting at the top of the afternoon session, and trading just below the green ascending trendline, but SPY hourly RSI is showing weakness in the rally. No sign of the bears as yet, but I suspect they will want to recapture that 50DMA before the close to keep the downtrend intact. Let's see what happens next...