SPX Daily Chart Rising Wedge Overbot Negative Divergence

Note the hanging man candle that printed today so a trend change may be at hand.  Tomorrow's action will verify the trend change, or not.  The negative divergence is shown by the teal lines. The red rising wedge is bearish as well.  The overbot conditions for stochastics and money flow only creates the conditions for a slap down.  Today's events, auctions and economic data provided ample catalysts to move the markets out of this sideways action but alas, everything was met with a yawn.

Tomorrow, however, using this chart as the guide, is set up for a spank down. Watch the resistance at 1296.80, based on the HOD's over the last three days. The market bears will try to prevent that number from occurring while taking advantage of the chart set up to push the broad markets lower.  The market bulls will try with all their might to push above 1296.80, if so, the bulls will be dancing up and over 1300 ahead of the weekend.  The bears have a great set up going into the open tomorrow with their fate hanging in the hands of the JPM earnings release which will set the tone for Friday's trading.  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.