SPX 2-Hour Chart Upward-Sloping Channel

Markets take a big orgy spike higher yesterday on the Fed no taper decision. The chart remains overbot. MACD, stochastics and money flow are negatively diverged over the last few days. The RSI popped to a new high yesterday, along with higher money flow, indicating that price needs from 2 to 4 candlesticks to allow time for the RSI to negatively diverge. This equates to 4 to 8 hours of trading time which would take markets into tomorrow. Thus, a sideways bumpy move through 1715-1730 is a reasonable expectation to finish the week. Markets need time to sort out the Fed mess. Price jumped above the upper rail of the channel so a move back down to back test the trend line is prudent, at 1722-1723. Projection is for a flatish move for a few hours to allow the RSI time to set up negatively then price to roll over to the downside. 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.

Note Added 9/20/13: The SPX moves flatish on 9/29/13 and closes at 1722-1723.