The weekly is finally finishing the set up for the bears. The bulls keep pulling out additional oomph which extends the upside. Perhaps a push of European money creates the thrust above the upper trend line. Last week's candlestick is a hanging man indicating a trend change is near. The down week last week was important since it resets the indicators to note if negative divergence is in play, and the answer is an easy yes. The MACD line may have a tiny bit more juice, ditto the RSI, now flat, but if the SPX tkaes ou the all-time closing high at 1565 in the morning, that will create some additional upside thrust.
As far as the chart goes, on a weekly basis, the SPX wants to roll over now and moving forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
