SPY weekly update

This week SPY temporarily fell below trend line but managed to close above it.The CCI(50) is still above +100 and EFI well above mid point. The EFI(21) and CCI(50) above/below mid point have been a good indication of both long term and short term trend shift on weekly frame. I have shown on this chart how you can use CCI & EFI to spot bottoms.When you have extreme readings in both CCI and EFI with significant divergence more often then not it's an indication of a bottom or top.