SPX Daily Overbot Rising Wedge Negative Divergence

SPX daily chart is overbot and showing a rising wedgie and negative divergence. The pink box topping action continues that began after the mid-December fake out when the utilities sector weakened for a day signaling trouble ahead but it was promptly stick-saved and the steady-eddy ride up continued. Late January another fake out, Copper was weak for a day and the VIX took a big jump signaling trouble ahead but these conditions were stick-saved as well and the path up continues. This chart is cooked, stick a fork in it. The happy talk by pundits is mistaken. 1230 to 1240 is a healthy support area. Volume trailing off over time, not the enthusiasm one would expect if this was a strong secular bull. This information is for educational and entertainment purposes only--do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.