SPX Weekly Overbot Rising Wedge Negative Divergence

SPX weekly chart is overbot showing rising wedgies and negative divergence except for that pesky RSI. When daily and weekly charts agree with divergence, positive or negative, that is a high liklihood of a stong move either bullishly or bearishly, respectively. Obviously, this chart is bearish. The behavior in the RSI, however, wants to see another matching or higher high at some point forward, so a logical conclusion is that the daily chart will spank the SPX down now, probably this week of 2/14/11, but to satisfy the weekly RSI, price will come back up for one more look, this would also give the chart a nice 'M' top look to it, and then it will be ready for multi-week weakness. A 1230 to 1270 target area would be logical to hit perhaps by mid-March. This information is for educational and entertainment purposes only--do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.