Spy has found its final range ?
same similarities between the forming of the left top and now what I believe will be the right top. To keep this thing in this tight range they won't be able to have all sectors running on full steam. Today XLK got the cold shoulder while Material and metals got a bump. With tech earnings kicking off next week I'm sure they'll rotate back in to that while neglecting another sector. the question is, which sector will dump next ?. It's all musical chairs from here until they close below 450 or close above 455.
One serious thing to note is the spy got rejected off its divergence on daily RSI. each time it has done this in the past has led to a minimum 2% pullback; that's equivalent to a drop 445 minimum. If I falls below 450 consider it game on for the pullback. If it gets over and closes above 455 I think we'll be clear of that RSI divergence
One serious thing to note is the spy got rejected off its divergence on daily RSI. each time it has done this in the past has led to a minimum 2% pullback; that's equivalent to a drop 445 minimum. If I falls below 450 consider it game on for the pullback. If it gets over and closes above 455 I think we'll be clear of that RSI divergence
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