If the 2-hour, 1-hour and 30-minute charts need about one to three candlesticks of time for price to potentially roll over to the downside this equates to about one to six hours trading time so at least this morning perhaps into lunch time and early afternoon before price may top out. Key S/R is 1902, 1897, 1891, 1884, 1880 (20-day MA), 1878 and 1874 so 1891 and 1897 are candidates for a ceiling. S&P futures are flat as this is typed so SPX price is playing in this 1884-1891 zone and the move above or below is a big win depending if you are bullish or bearish. Bulls win above 1891. Bears win below 1884.
Bears got nothing without the negative 8/34 cross and this can only be created if the SPX drops to 1885 and starts heading lower. The bulls are running higher but the projection is that the bears should top price out perhaps today at the 1891 or 1897 resistance with market weakness beginning. If price cannot drop to 1885-1886 fairly early in the day, then things are looking good for bulls. If XLF stays above 21.83, the bulls are on easy street 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.