The
SPY
is showing bearish divergence on the RSI over the daily. If you look the SPY has pushed for higher highs but the buying pressure is slowly tapering off. Additionally most oscillators confirm the start of a bearish trend.
I am always bullish in the long run, but this looks like a good setup for a short term swing. Looking into buying puts roughly a month out.
SPY
is showing bearish divergence on the RSI over the daily. If you look the SPY has pushed for higher highs but the buying pressure is slowly tapering off. Additionally most oscillators confirm the start of a bearish trend. I am always bullish in the long run, but this looks like a good setup for a short term swing. Looking into buying puts roughly a month out.