SPX 2-Hour Chart Overbot Rising Wedge Negative Divergence

The beat goes on with the rising wedges over the last several days, each one creating a spank down but the bears can gain no downside traction.  So, here we are again, the red rising wedge with price moving into the apex, especially since the S&P futures are pointing to a buoyant start to the day. The red lines show the negative divergence in play which wants to smack price lower, however, the Energizer Bunny keeps pounding higher. The stochastics and money flow have some momo over the last few hours so that would hint at some further upside price action but overall, the negative divergence should remain in place creating a move lower.  If price moves into or even above the apex of the wedge, to satisfy the stochastics and money flow, say, a couple candles should do it, that would correspond to about lunch time.  So, markets may remain buoyant into noon time and then perhaps the negative divergence will step up to the plate to create a move lower. Note the doji candlestick for the last print yesterday which indicates a potential trend change.  Price would need to follow-thru lower with a lower candle in the first two hours of trading to verify the trend change. Key S/R is 1505, 1496, 1485, 1476, 1472, 1468, 1461, 1457, 1444, 1433, 1416 and 1403.  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.