SPX S&P 500 2-Hour Chart

The opening bell rings and stocks are off and stumbling sideways. Price came up almost to a matching or higher high but not quite so the indicators are not officially negatively diverged across the board but the peaks yesterday were in limited neggie d when the price candlesticks printed matching highs. The expectation is for a pullback in this 2-hour time frame targeting the middle band for starters at 2846 and rising.

If price moves higher, the indicators will likely remain sloping negative and lock in the negative divergence and create downside ahead. Watch the thin red lines shown for the indicators. A positive news bite may create more joy in markets and a potential new record high above 2872.87 (the 1/26/18 all-time high) but if a news bite does not save the day, stocks should retrace. 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.