SPY Bearish Divergence
A bearish divergence forming in the SPY daily chart. Supports other posts looking at a head and shoulders in the chart, which I personally don't see. Either way, a few red days may be coming. Not necessarily a full correction tho. I have cash on hand to buy at some decent discounts and hedges in place (puts purchased with premiums from covered calls) where the company's chart shows indications of a dip coming.
Recent break down level below the established trend line may be retested.
Also supported by my post yesterday about the divergence in the SPY/DIA combined chart.
Recent break down level below the established trend line may be retested.
Also supported by my post yesterday about the divergence in the SPY/DIA combined chart.
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