RSI on daily SPY is in a downward channel. I expect RSI to fall next week.
Comment:
I meant I expect the price to fall (but RSI as well). I also expect this fall to be significant.
Comment:
well, yesterday morning CPI came out and inflation turned out less than expected and that pushed the market up
Comment:
I am still bearish on the market (despite going up meantime).
Comment:
SPY looks bearish for the rest of the month, at least. I expected it to start to fall earlier but it seems the better-than-expected CPI report gave it an extra boost. But I have relatively good confidence that the market will fall. SPY is closed yesterday (Friday) at 452.18.
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