SPX S&P 500 2-Hour Chart; Oversold; Falling Wedge; Positive Divergence; Lower Band Violation

The 2-hour SPX chart is set up with oversold conditions, a falling wedge and positive divergence all bullish indications. Price jumps out of the falling wedge which would be expected. The possie d forms over the last couple candlesticks so the Tuesday open will have to play out to see if it can launch price higher. If not, the relief rally would only be delayed a day or so because price would come down and the indicators would likely all be firmly positively diverged ready to push price higher.

The lower band is violated so the middle band at 2692, and dropping, is on the table. S&P futures are up +14 about 3 hours before the opening bell for the Tuesday session. The bulls are walking around with their chests puffed-out ready to launch a relief rally. Both the SPX 2-hour and daily charts are set up with possie d which is a big feather in the bull's caps. 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.