Currently there is some divergence between the ROC and the price of SPY. ROC (rate of change) is a momentum indicator.
There have been multiple divergences like this before, and each one resulted in a trend reversal.
The ROC has moved back towards the mid-line, which is a sign of waning momentum. If we cross below the mid-line (0 value) then we could see some downward momentum and lots of selling.
We also just hit the 21-period moving average in the previous session. If we cannot stay above it then I will remain bearish.
There have been multiple divergences like this before, and each one resulted in a trend reversal.
The ROC has moved back towards the mid-line, which is a sign of waning momentum. If we cross below the mid-line (0 value) then we could see some downward momentum and lots of selling.
We also just hit the 21-period moving average in the previous session. If we cannot stay above it then I will remain bearish.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.