It was subtle but it happened. Lower high for the SPY with a higher high on the RSI. I project a breakout of the bottom end of this range next week. Bearish divergence continuation to kick off the new year? As mentioned in previous posts, it is perfectly fine to hold some trades to the upside, but I do not recommend going into the new year without a bias to the short side.
More interest rate increases, negative economic data and slowing of the global economy incoming. I put a link below that helps traders understand the idea of a bearish divergence. Hope this helps and hope you all have a very great new year.
SPY
More interest rate increases, negative economic data and slowing of the global economy incoming. I put a link below that helps traders understand the idea of a bearish divergence. Hope this helps and hope you all have a very great new year.
SPY