SPX Weekly Chart Upward-Sloping Channel Overbot Negative Divergence

The bulls keep pushing higher on the Fed's easy money fuel but the red lines clearly show unenthusiastic price action. The indicators are overbot and negatively diverged. There remains some short term upside momo over the last couple weeks but even if the SPX tags  the 1720's the anticipation is for a roll over to the downside at anytime over the coming days or week or two. So the upper 1720's is in play (another 25 handles of upside), but the risk to the downside is toward the 1580's (over 100 handles of downside). The chart hints at the ole scenario of picking up nickels in front of a bulldozer, however, copper is up today and volatility lower, which keeps the bulls happy. 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.