SPX S&P 500 2-Hour Chart; All-Time Record High at 3918.35; Overbot; Rising Wedge; Negative Divergence; Stock Market Top Signaled by Neggie D

Wheee! Whoopie! Yee-haw! The S&P 500 prints the highest number in history today, 2/9/21, at 3918.35.

Ring the bell. Sound the Seven Trumpets! It's cooked. Stick a fork in it. You can see the neggie d with  the MACD now so price makes the higher high, the new record high, with all chart indicators neggie d. It's done. The top is in. Pope Powell speaks tomorrow; it would be interesting to see the stock market crashing while he speaks.

The pubic remains sequestered at home due to coronavirus (COVID-19). Money is not spent on the doughnut shop, restaurants, gasoline, snacks and fast-food. Daily habits have changed. The upper middle class and wealthy elite have not missed a beat during the pandemic, banking money and asking everyone else why they are so glum? They will not be asking that question once America's class war kicks into gear.

The discretionary spending of the well-to-do in this New Gilded Age continues but is routed into two main areas; renovating homes and playing the stock market. Folks have installed the new living room rug, painted the walls and replaced the sofa that has the middle cushion turned upside down because of Scruffy's accident a couple years ago. Thus, the money funnels into the stock market over the last couple months via Robinhood, TDAmeritrade and other platforms. What is wrong with a country that is handing out money to people that do not know what to do with it except gamble it away while others sit for two hours in a food bank line?

Nonetheless, this money flowing into the stock market is proven with the large ETF inflows into tickers such as VOO, IVV and QQQ, however, how long can this last? The chart says it has run its course. Even the folks that did not need $600 stimulus money have did something with the money already. Perhaps stocks are at the Wile E Coyote moment, in suspended animation, when everyone is looking around for the bigger fool.

Keystone is heavily short but the Keybot the Quant algo remains long. Is a Black Wednesday on tap? 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.

Note Added 8:10 PM EST: S&P +6.

Note Added 8:42 PM EST: S&P +10. Euro 1.211. USD, DXY, 90.52. 10-year yield 1.16%.

Note Added Wednesday Morning, 2/10/21, at 2:40 AM EST: S&P +18. The fans cheer, "Powell! Powell! Powell!" Traders expect Jerome to coo dovishly today.