I just want to point out the Daily Bullish divergence on the rsi 5 oscillator is GONE, although volume was lower today which is Bullish, but then again, maybe not.

The reaction from Brexit may have overshot the first volume day by a bit, so it could be out of sync.

The lagging MACD indicator on the bottom might have just given a kiss of death, at the same time SPY just tagged a lower high, ooops.

We also just made a lower low on the chart from the recent 5/19/16 low which was a sweet reversal to the upside.

Its hard to be a buyer long term, specially when it is so easy hitting 10% a month.

Joseph VanDerveer is the Chief Technical Analyst with 8 years experience in the trenches trading the markets with a brand new website and service at www.doubleplayoptions.com

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