SPDR S&P 500 (SPY)

[risk on]

Tuff to find too many times where spy closes below the 9 EMA and is OB at the same time , they do exist, but not that common. So those two will usually be at some degree of opposite. Now, we have another indicator, uh, actually three more, a gap up while in OB, a DOJI ( almost DOJI , but spirit of the candle matters most) , and a touch/ pierce of the upper BB ( first time that happened this entire run, and a known indicator of run stop in previous similar runs).

So, with that much circumstantial evidence , and being in OB, seems likely to get a drop.

One more piece of indication, " the farther away from the T line price is, the much more likely a return to and through the T line "

T Line is usually 8 EMA, but I've taken to using the 9 EMA , so that's what I use.