SPY showing fake bull rally? Could Bears Be On The Way Soon.....
The stock market has been rallying bullish the past few days and weeks but with negative news in the economy and with the trade war, the US Dollar and US market could be heading into a bear market soon...
We could be looking at a suckers rally at the moment. Here are a few reasons why...
1) Price gets rejected at the top of funnel (Green Line) which is a strong support line.
2) 200 MA & 300 MA hovering right above with a little wiggle room on the 1 day. Looks like strong resistant areas. The 200 MA and 500 MA also crossed bearish with the 21 and 50 MA's.
3) OBV showing a grind line which could possible break soon..
4) ATR showing drop in volatility...potentially looking for a big move soon. Considering ATR has been going down while price is going up could be a possible divergence
We could be looking at a suckers rally at the moment. Here are a few reasons why...
1) Price gets rejected at the top of funnel (Green Line) which is a strong support line.
2) 200 MA & 300 MA hovering right above with a little wiggle room on the 1 day. Looks like strong resistant areas. The 200 MA and 500 MA also crossed bearish with the 21 and 50 MA's.
3) OBV showing a grind line which could possible break soon..
4) ATR showing drop in volatility...potentially looking for a big move soon. Considering ATR has been going down while price is going up could be a possible divergence