Update on SPY: still longer term bearish.

SPY is at the top of the up channel on more time. Just watching for some convincing down price action. Notice for the first time since 2009 the weekly RSI went sharply below 25 on the last drop labeled (4). This kind of action in the weekly RSI often is a precursor to more bearish action ahead. Like all "signals" they are never 100% consistent. But that signal with the negative divergence and now at the top of the channel makes me think the next major action will be down. We' will see.
Take care. Stay safe.
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