Domistock Tools Used:
Assets charted: S&P 500 ETF (SPY)
SPY is surging to new highs but DomiStock thinks it may have gone too far for now. The 35%, 1-Day Resultant Direction of the Profit Loss Calculator has turned negative, indicating a diminishing of the supply forces even as SPY was closing higher today. Apart from that, the Inflated – Deflated Expert Symbol has signaled price inflation for the three last sessions. Additionally, the performance of the 7- day Dominant signal for SPY is the highest of the last 20 periods, which adds to the risk of investors taking some profit in the short term.