SPX S&P 500 Daily Chart; Positive Divergence; Lower Band Violation

Stocks crumble since early October and are in a sideways chop ever since. The indicators oscillate sideways not tipping their hands. The S&P 500 recovers 55 points intraday yesterday, Monday, 12/10/18. Look at the long lower tail on yesterday's candlestick stabbing through the lower standard deviation band at at 2608. The middle band at 2703, and falling, is now on the table.

With the three low price tests since Halloween, each a matching or lower low in price, the indicators are positively diverged. This energy should launch price off the bottom again as may have started yesterday. The chart is very agreeable to a relief rally. Note the death cross that just formed. Price typically bounces after a death cross occurs which would hint that a move to 2700-ish may be in the offing. S&P futures were down -10 points a couple hours ago now up +13 points with the opening bell for the regular Tuesday session about three hours away. If a relief rally takes hold, shorts will begin covering and running for their lives which may add more upside fuel. 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.