Friday, September 20, 2013

SPX Weekly Chart Negative Divergence Price Extended

SPX weekly chart shows a higher high occurring with negative divergence continuing. There is no reason for price to move higher and another negative divergence spank down would be anticipated moving forward. The big up move over the last two weeks has momo so a jog move in price over the next two weeks may be on tap before the roll over. The purple dots show the price extension above the 20 MA above the 50 above the 200 that will require a reversion just like all prior times. Volume remains lackluster. Projection is sideways to sideways lower for the weeks and months ahead. 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.

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