SPY Weekly is showing Bearish Divergence

22 ott 2020Taking a look at the weekly timeframe on the SPY, we can start to see what looks like a possible double top forming. Also looking at the OBV indicator, we can see a bearish divergence has formed as both tops formed at around the same resistance level and the OBV has failed to follow suit. Combine this with the MACD showing signs of weakness on the upper end of the scale and the market could be on its way to rolling right over.