I just put on a short in SPY for a swing trade and plan on scaling in fairly large as we are close to a inflection point. VIX is printing a buy and SPY is close to top of its range.
Not a huge amount of negative divergence but we do have a sell signal (mean reversion) on the hourly and very close to the top of the range. It was enough for me to go short.
in 1999-2001 all the weekly tops tapped a trendline in RSI. I am looking for a similar setup now