Divergence on SPY

Low Conviction
Low Conviction
March 14, 2019
Back In Control
Back In Control
March 15, 2019
Show all
Divergence on SPY

One indicator that tracks market internals that I like to pay attention is S1FI.

As I mentioned in the video on identifying and trading market reversals, S1FI tracks the number of S&P 100 stocks currently above their 50 daily MA.

Currently, we’re seeing a negative divergence setting up with fewer S&P 100 stocks trading above their 50 day MA while the SPy has made new swing highs.

This doesn’t mean a reversal is imminent as price needs to confirm but it is worth tracking to see if this divergence continues.

Divergence on SPY

by editor time to read: <1 min
0
×
Sign up for our weekly newsletter
Stay up to date with the podcast, and get notified when the next podcast drops.