py has continued this rally now for 11 years straight , now it's time to prepare some shorts on it, Most probably in a month or two we can see it down dramatically. And we have hit fib target.
This counter rally is running into a hidden bearish divergence. Volume is declining. The trendline breakout didnt bring in a lot of buyers. I expect the stock market to go down, trying to continue it's downtrend.
Going straight back to the all time high without looking back would be very surprising.
SPY getting strong support around 100SMA.
Market Makers playing to accumulate at lower prices. A Clear divergence between OBV and price change. Nothing to panic still.
SPY Fund Summary
The investment seeks to provide investment results that, before expenses, generally correspond to the price and yield performance of the S&P 500 Index. The Trust seeks to achieve its investment objective by holding a portfolio of the common stocks that are included in the Index), with the weight of each stock in the Portfolio substantially corresponding to the weight of such stock in the Index.
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SPY
