SPY shows a double top forming

16 Jan

SPY has been trending sideways lately after its fall rally that started in October.

• fear greed index climbed to extreme greed during December then held that position for a few weeks.
  
• The fear index has since started contracting a long with many tech stocks
  
• SPY tends react slower to change in sentiment over riskier tech stocks
  
• We should expect a sell off of SPY begin roughly in February possibly sooner