SPY is basically at every metric for being over-extended. From the Shiller PE ratio surpassing the all time highs to the buffet indicator at al time highs, take your pick, they all say the same thing. The Chart's trend is dying and the sell offs have been the initial weakness warning signs that retail traders are missing big time rn. Smart money is clearly selling the farm rn and the volume data on the chart backs it up. SPY is a clear sell in imo.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.