Yes, and there’s 4 red days in a row prior to today. THAT is rare for SPY, so it should give way to a geeen streak , and the overarching 9 ema (S) trend also seems to suggest the red day stream should break .
HOWEVER, I think this reversal is limited in size and duration. In fact , watch for the double top on the daily, because....
what’s even more salient , well two things really , both on the monthly.
1) the 9 ema is almost touching the upper B.B. , and as spys entire history shows, the two cannot touch. So there’s two ways that condition can be avoided , either the upper B.B.’s altimeter goes even higher , or the 9 ema suddenly and sharply falls. Since Spy is max OB on the monthly , on all indicators , then it seems likely that Spy can’t go much higher without a correction.
2) If Spys monthly chart we’re a snake, since August 2015 spys Monthly candle chart is a giant green snake with just four little red bans and two of those bans are so narrow it’s hard to even see the red.
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