RSP lower high evident on the daily chart today July 23 is not confirming the SPY higher high
be vigilant, the SPY staying power to the upside may have a limited life … greater than 50% odds for a limited upside life based on the RSP and SPY chart history
SPY bulls need to see a higher bounce high printed by RSP to align with the SPY higher bounce high
* participation in the SPY upside price action is limited at the moment to the very largest capitalization size stocks in the S&P 500 index ..
lasting upside price action is more probable if the majority of the 500 stocks in the index are participating more equally in the price advance
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