I am again trying to hop on board a potential longer trend at its beginnings. Right now, for evidence is the following on the SPY:
1. Declining volume for the past few months
2. Daily, and the beginnings of weekly momentum divergences.
3. Divergences on the RSI.
4. 20/50 EMA crossover on the hourly chart.
Also we'll have to keep an eye on the currency markets, right now the dollar is being destroyed in value, causing the stock market to trickle upwards as it has been doing. A reversal in the dollar decline, perhaps coupled with a spike in the VIX and we'll have ourselves a ballgame.
Now lets all root for the Patriots in London!
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