A look at the weekly chart :
- The last 3 times RSI touched/crossed 70, ze got a pull back of SPY
- We closed the week above RSI 70, turning to the downside
- Weekly close of SPY was negative
- However, we have the 50dMA breaking the 200dMA, also called the “golden cross”, suggesting we could break upwards
- Conclusion : a pull back for another 2 or 3 weeks before continuing the uptrend ?