SPDR S&P 500 (SPY)

[USDollar]

SPY dropped intraday by 1.43 in charts due to ex-div

To accurately chart and conclude you have to follow suit and drop all stuff by that amount.

But SPY still closed negatively relative to last cycle

But I've seen bearish signs and bullish deterioration well before this since beginning of the week. So I'm thinking this is a transitory period toward correction.

Usually downwards she goes faster, much faster than up.