SPY - morning update
Even after the U.S manufacturing PMI coming in at 47.8 versus 49.1 last month, SPY continues to consolidate within its hourly time frame.
Bullish
- Holding support after negative news
Bearish
- Daily MACD continues to widen after making a bearish crossover
- Daily RSI below 50
- Price trending below lower Bollinger Band
Hourly Chart
Daily Chart