128Capital

Over-extended rally within the rally

BATS:SPY   SPDR S&P 500 ETF TRUST
1
The past week has seen the S&P really get ahead of itself. The past two highs have been accompanied by lower highs on the RSI. When you look at Money Flow--which is basically RSI but also accounting for volume--you see the divergence is rather significant. While a move down the 50 EMA could be expected, it is silly to short this levitating market at the moment.
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