Looks like a failed attempt to rally after a hard pullback.
This time of year is prone to lower than usual volume, with stocks tending to float up on low volume.
But these are strange times my friend, and after this dead cat bounce, I'm fully expecting a massive dump over the next few days as we head towards the peak holiday season.
Today the SPY started to look towards to 20 DMA, as you can see from the Bollinger Bands.
The Stochastic turned bearish, and the MACD almost, but not quite decided to call off the bearish sentiment.
I still think there may be time to profit from the future downturn.
This time of year is prone to lower than usual volume, with stocks tending to float up on low volume.
But these are strange times my friend, and after this dead cat bounce, I'm fully expecting a massive dump over the next few days as we head towards the peak holiday season.
Today the SPY started to look towards to 20 DMA, as you can see from the Bollinger Bands.
The Stochastic turned bearish, and the MACD almost, but not quite decided to call off the bearish sentiment.
I still think there may be time to profit from the future downturn.
