Looking for a bear market rally over the next several weeks as the MACD and RSI have a divergence with the SPY; RSI also has a divergence on the weekly. I think we will eventually go lower on the SPY but for the next few weeks it's hard say bearish is the direction. The market has put in some strong selling this year, so far, and just needs a break from bearish activity. It's just the way it works. Also spotted a Bearish Elliot Wave 5 count that ended 2 weeks ago, so expect bullishness for now. Have a good 4th of July.
