SPY has topped out, signals end of 10 year bull run
This is my first and (maybe) only trading idea on TradingView, but I think it's important to share.
With the global economic growth slowing and multiple pressure points looming (Brexit, trade war, political unease around the world), SPY is flashing a double top on the weekly, and technical indicators are showing significant bearish divergence, building since January 2018. The pattern of course hasn't completed yet, but volume here tells the story. The selloffs have been far more intense than the BTFD buying. This suggests to me that institutional investors are dumping on retail.
I'm staking my flag here at the top and marking the end of the longest bull run in modern history. All good things must come to an end.
With the global economic growth slowing and multiple pressure points looming (Brexit, trade war, political unease around the world), SPY is flashing a double top on the weekly, and technical indicators are showing significant bearish divergence, building since January 2018. The pattern of course hasn't completed yet, but volume here tells the story. The selloffs have been far more intense than the BTFD buying. This suggests to me that institutional investors are dumping on retail.
I'm staking my flag here at the top and marking the end of the longest bull run in modern history. All good things must come to an end.
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