SPY Update

Remember, window dressing ends today.

 The SPY has hit the 50-day moving average and seems like it's acting as resistance, which most retail traders will assume it to be.

 The 5 min chart shows pretty good confirmation since this week's run up, there's now a decent size negative divergence at resistance.

Now the negative divergence is showing up on the 15 min chart as well.

There's multiple ways this could play out, there could be a consolidation in the area, there could be a drop from here, or any number of scenarios. For now, there's resistance and 3C is responding to that with negative divergences. Should they start to develop in to longer timeframes, we'll have some more clarity.