SPX Daily Chart Downward-Sloping Channel

SPX daily chart shows an established downward-sloping channel. Note the weak and bleak profile of RSI, MACD line and money flow that want to see a lower low in price moving forward. Stochastics and the histogram show a tinge of hope for bulls and this likely caused the slight buoyancy and sideways movement the last couple days.  SPX 1375 and the 1369.44 (Keystone's SPX 12-Month MA Cross Indicator) are key. Also the 200-day MA at 1381.29 and the 150-day MA above that we watched yesterday. The 1369.44 is the cliff edge where bad things are going to start happening quickly. The bulls have to make a stand at 1369-1370, otherwise, they will be crumbling.

Continue watching the indicators as they will develop positive divergence moving forward. The weak and bleak profile now points towards a test of the strong 1375 support and/or the 1369.44 line in the sand today. 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.