Distribution keeps on coming...

...the smart money unloading on the dumb money. We now have 7 distribution days in the past month, and MACD divergence. Watch out below!

(you can see the distribution days and MACD div on the SPY daily chart above)

Furthermore, we're getting major divergence on the 5- and 10-dma Advance/Decline issues. Much fewer stocks participated in this last rally from the October lows. We're heading down :).

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