SPX 30-Minute Chart 8 and 34 MA Cross Inverted H&S Negative Divergence

The 30-minute shows the 8 remaining above the 34 MA since late February signaling the bullish markets. The blue inverted H&S remains in play; head at 1487, neck at 1525, target would be 1563.  The red lines show negative in divergence as the price tests the prior highs, which mimics the vibe on the 1-hour and 2-hour charts, so this hints that the SPX will move lower from here. The stochastics and RSI have some short term momo, so a couple candlesticks may need to print before price drifts lower, this would be an hour or so of time. Of course, you never know how strong the Fed's pump is so out of the blue the markets can spike higher. Based on the hourly and minute charts, however, the bears should receive some down action from the negative divergence. 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.