SPDR S&P 500 (SPY)

[DowDeva]

Isn't anyone concerned about how obvious a short here is?

Like, too obvious?

The decline today reset a lot of my intraday charts to oversold and in addition, my 4 hour chart has a higher high on the momentum at the price high today, than it did at the price high on 7/13. My slow poke MACD (30,90,60) is also moving up on the 4 hour and the fast line is above the slow line.

There is a classic TA shorting pattern where three are three 'tops' in an indicator and the third one is actually higher than the second (and sometimes the first). But this is not it and I am getting more cautious about my short projections for the moment.

It could be that the obvious is the accurate conclusion. I have seen that happen on occasion.

~d