Thanks Randy!

Will do. I plan to cover commodities in a video today.

The PPO divergence started in late April on SPY with a PPO value of 1.60 which is still the highest peak on the PPO since that point (i.e.- SPY has been making higher highs in price while the PPO has been making lower highs, at least from that point to current levels). Negative divergence occurs when prices are diverging from the indicators which is essentially when prices are making higher highs with the momentum indicators making lower or equal highs -or- when prices have made higher or equal highs with the indicators making lower highs.

In the daily chart below, I expanded the RSI to better show the larger divergence that has been building since late April along with the small divergent highs that have occurred since that point, each one followed by relatively small corrections that were roughly commensurate with the scope of the divergences. Small divergences usually, but not always, equal small corrections with larger divergences typically followed by larger corrections/trend reversals.

The RSI divergence around the late April/early May reaction high on SPY & is essential what is referred to as ‘flatline’ divergence as SPY has made a higher high in price with the RSI making roughly equal highs as the RSI is just a hair above its late-April peak but effectively an equal high.