SPY breaks another upward trend

SPY has broken two upward trends in this recent rally giving less momentum each time it breaks

• Ended old upward rally on Sept 23, going into new rally with reduced momentum
  
• The latest rally has now been broken again
  
• MACD very close to going into a bearish sell off
  
• RSI breaks below the 50 line
  

We may expect SPY to trade flat for a little bit of time in the distribution phase of its rally cycle, before the bears take hold.