The 10 Day Hi-Lo is flashing a caution light. When the SPY makes a higher high while the 10 day Hi-Lo starts to drop, be on watch. In the past divergences appear at most turns in the market. At the very least, the 10 day Hi-Lo develops lower highs and lower lows at or near tops and higher highs and higher lows at or near bottoms.
This one down turn in the 10 day Hi-Lo is not by itself an indicator of a guaranteed turn, but, it is a warning that it should be carefully watched.
Buying Pressure has been falling also. See the current post of Buying Pressure.
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This has been posted for Educational Purposes Only. Do your own work and consult with Professionals before making any investment decisions.
Past performance is not indicative of future results
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