SPY Follow Up

About 45 mins ago I mentioned what looked like a tower top/reversal in the SPY, it seems to be correct as we move into closing trade.

 Here's what was the hypothetical tower formation, now filled out.

 Note 3C during the two tops of the tower formation has gone in to a deeper negative divergence.

 RSI, also a helpful tool has shown a similar negative divergence.

The 5 min 50 bar has been the average to watch today as t is most days for intraday trade, the SPT has generated quite a bit of sell side volume and s seen here testing support at the moving average. Typically we see bounces back and forth around a support area like this so if it is decisively broken and volume picks up, that will tell us something about sentiment in to the close, which is the most important part of the trading day.