As the SPX breaks out of the 3000 range, many shorts are getting liquidated and many algorithms are going to pump longs as we breach above the 200D MA.
It looks bullish however a sneaky divergence presents itself on the RSI. Curious to see how this pans out further but it could be another correction that would force a lot of new positions to close. Already volatility has been increasing over the last few days and it will most likely get worse (whether in the up or down direction)
It looks bullish however a sneaky divergence presents itself on the RSI. Curious to see how this pans out further but it could be another correction that would force a lot of new positions to close. Already volatility has been increasing over the last few days and it will most likely get worse (whether in the up or down direction)
