SPX Weekly Chart

SPX weekly chart with the rising wedge remaining in place. Histogram and stochastics showing negative profiles so they are very content in seeing the SPX sell off. But, the RSI and money flow managed one last burst of joy that needs rectified. Since RSI has a higher high, a move up in price to the prior high should be expected, thus, a potential M Top seems more likely.

A matching or slightly higher price will line up all indicators with negative divergence and clear the way for mucho down side. Note the inverted H&S target at 1230-ish which the SPX obviously hit and drove up thru. Considering the daily chart, there is a confluence growing at that 1230 area strengthening it as a target. SPX appears to be continuing to roll over. 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.