SPX Daily Chart Tight Bands Forecast Big Move Imminent

The drama with the tight standard deviation pink bands continues. A big market move is about to be squeezed out. Watch the April fractal for clues. We are now at the juncture where equities must choose a side, no more of this sideways indecision stuff, it is time to decide. Today or tomorrow the direction should be clear. The bulls always win over recent months with the tight band squeezes so will this trend of happy markets continue, or will the bears finally shine? The indicators show the negative divergence spank down over the last few days and the ongoing weak and bleak profile that wants to see lower prices even if a bounce occurs. The fight for the middle band, the 20-day MA at 1692.09, remains key. Bulls win above 1692. Bears growl under 1692. Watch the RSI and stochastics 50% bull-bear lines in the sand for clues.

S&P futures are +4 about two hours before the opening bell. Retail Sales data will set the mood but the +4 would give the market bulls the nod today. By Friday, it is likely that the SPX will be either up in the 1720's, or down in the 1660's, and Retail Sales at 8:30 AM EST may be the catalyst that determines the move.  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.