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SPY's RSI tops out as its price trend shows weaknesses

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
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AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators
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trendanalysis chartpattern indicator
snapshot
SPY has showing a trend of testing its support line and even trading below it over the past weeks. To add on to this, the RSI is now indicating it is over bought. Repeatedly testing the support line with an overbought RSI means this upward trend is closing. We should expect a change in the trend to a bearish sentiment soon.

Idées en relation

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SPY trades below its lowest trading point since Decemeber
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SPY is testing support trend line and trading below
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