Stocks seeing a resurgence of selling. I'm getting a sense that the street is continuing to de-leverage themselves from the Mag7 stocks at the expense of retail. You see, retail has made a killing since 2009 buying the dip. Sure there was that nasty bear market in 2022, but even that was quickly wiped away
Current trend-line of $SPY on the 30 minute chart. Could see a a bounce that takes it back up to the declining trend-line.
SPY has consistently held the 5-month moving average since this rally began in late '23. Right now it is getting tested. A hard break below and close below, could signal a shift in the market.
Seeing a potential test here, hard to get short unless this gets broken first.
SPY keeps bouncing off that 50-day moving average.
SPY Seasonal the weakest for February.
SPY Just won't stop chopping.
SPY broke the declining resistance.
The 5-month moving average on SPY is resilient.