-Pull back into a support area (in this case the previous day's high) which often registers as a reverse divergence.
-Double bottom into the later afternoon (can otherwise be an inverse H&S or 3-push to a low).
-Price returns back to the breakdown point (continues in the direction of the trend).
I use the term "2d setup" to define the above list of criteria, as mentioned in previous posts. So here is what it looked like in the SPY today; as an aside, had price rolled over under $133 (around the 1:30-2:00 hour) this could have been a potential short:
And so price is in the reversion to a mean phase, in this case the 20-day MA, which coincides with the 38.2% retracement. (Pay no attention to the lower wick on the chart below, it appears I have to clear my cache).
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