Looking at the higher time frame Daily chart of the SPY.
The 3/10macd is indicating a potential 2b short setup (fast line has to tick down) with a 3-push pattern.
Either we get a bullish day which initiates another cycle of buying higher, or we get a bearish rejection candle leading to a corrective move lower (would confirm with the fast line closing red on the 130-min) and may even lead to a breakdown of the purple trend line on the daily chart.
(Upon looking at this again I believe it is mislabeled. The 2-push should be moved over one hump to the left and the "3-push" should be located where the "2-push" is).
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.