DVY Dividend ETF Weekly and Daily Charts Overbot Rising Wedge Negative Divergence Dividend Stock Bubble Grows Larger

The dividend stock bubble continues to pump higher. DVY and SDP are charts to monitor as time moves along as well as any blue chip that offers a large divvy.  An upward-sloping channel is clearly in place for the daily chart. The daily chart is set up with overbot conditions and negative divergence across all indicators. The MACD line has a hair more momo so a stutter step can occur for day or three before price rolls over. Friday's candle is a hanging man that signals a trend change but follow-thru would be needed today to verify the candlestick prognostication. Money is running strongly into dividend stocks as seen by the vertical move in price for January.

The weekly chart shows a rising wedge (bearish) where price is reaching the upper limits. Again, universal negative divergence across all indicators.  The volume is unimpressive as well. The sucka's that are running into the dividend stocks no doubt are greeted by the institutions all too happy to provide shares to Joe Bagholder. The strong move higher this month to start the year results in some momo (green lines) in the weekly time frame. Thus, the daily chart wants a spank down now, the weekly chart is agreeable to a move back up after the spank down occurs, then the weekly chart should be positioned for a more substantive roll over moving forward. The drops out of rising wedges can be quite dramatic sometimes.  Projection is for the dividend stock bubble to pop over the coming days and weeks and lower numbers for the weeks and months ahead. As time moves along, watch to see if the current price action eventually forms a head for an H&S. Q1 is setting up to be a historic time for trading and economics. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.