More Bearish Divergence on SPX

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The hourly chart of SPY looks to be set-up for another possible bearish divergence on a push to new rally highs. Also, some of the shortest term indicators are a bit overbought, so it seems like we may see a pullback pretty soon.

That being said, if this is still a bull market, then the July bottom should hold, and there may be very little if any pullback from these levels.