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JebusLives

SPY - RSI Divergence

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
JebusLives  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Technical Indicators Trend Analysis
5
0
indicator trendanalysis
We have a strong divergence forming in the RSI. I'll be watching this formation closely looking for an entry point.

If the RSI breaks out of the ascending wedge, it looks like a short opportunity.

I'll also contemplate an entry if that RSI wedge gets near completion.

While this is a SPY chart, QQQ puts are also on the menu.
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