It may, it is in an uptrend w solid S. Spy has been pulling this trick off the entire way up , where in it gaps below the 9 EMA at open, or drops below during the day , only to end the day closing at or above each and every time. Since its opening day season, we can use a wore out cliche to best describe the spy to 9 EMA relationship, spy is batting 1000.
Now, for the counter point, or the paradox as I call it. So, if this is so clear, so obvious, why don't I just buy anything below the 9 EMA and forget it, because of one word; OSCILLATORS. THEY ARE COOKED. When spy is this far OB this long, the pattern break can be sudden, swift, and sharp. It may even be that spy gaps down by a big amount, then the 9 EMA watchers pile in, looking for that free bus ride on immediate call lanes again, only this time spy zags. Then it will be " What? Why did it do that?!" again, OSCILLATORS , one year daily can not be ignored.
Another juvenile metaphor;
The Time for a A change is a comin, "when" is the question that plagues, but trying to grab one more pot plant ( another ride up) from farmer greens shed before his shotgun ( OB oscillators) gets you is a dangerous business.
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