SPX daily chart showing a potential M Top in progress with the second hump now forming. Price has moved up into a rising wedge for the last three weeks. There is a tiny gap up above at 1340 to fill and that would close out all loose ends above and open the door to the downside. The indicators are all agreeable to weaker price moving forward with the exception of the strong bounce in the histogram, thus, a little jog back up after price moves down would be in order to make the histogram negatively diverged in April.
20 MA crossed under the 50 MA which is bearish. Possible 1340 gap fill, other than that, price should be sideways to sideways down moving forward. 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.
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