While the ADX or trend is too strong on the daily chart of SPY, the 60 minute is not. ADX is at modest level of 14.74. So oscillators such as MACD can be taken a bit more seriously. As pointed out yesterday, MACD is setting up for negative divergence. Today it's closer to fruition. So far this year we've had two other times of possible tops with negative divergence (see circled areas), but low volume grinds eventually negate the setup. We're at it once again. This time at SPY 137. I don't want to jinx it, but could this time be different? Or is it too good to be true? February isn't supposed to be this strong.