Possible Divergence in the SPY

Below is a chart of the SPY, showing the reasons I was comfortable entering some long positions over the fast few days. First, the SPY halted it's decline right around the lows (excluding the two extreme days in November which for now I consider outliers). Second, the MACD has been trending up while the SPY has been trending down. This tells us that the decline is losing momentum, and possibly setting up for a nice reversal. There is a good chance I could be wrong, which is why I have very tight stops on all of my positions.