Hidden bullish divergence
Spy got the break down of the ascending channel everyone was watching for. Today even with bad new home sales and pmi data the bears were unable to continue the sell off. Price consolidated all day and looks like a hidden bullish divergence is showing on the RSI. I think spy tests and breaks the 200 dma next.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.