SPX S&P 500 2-Hour Chart; Negative Divergence; Upper Band Violation; S&P 500 Prints New All-Time Record High at 3176.28 and All-Time Closing High at 3168.57

The stock market rallies higher on Soybean Donny's talk of an imminent US-China trade deal. The SPX prints a new all-time record high at 3176.28; you see it with that spike in price, that long upper shadow on that red candlestick. Usually rally moves like today have legs, however, the 2-hour chart is already in negative divergence again and out of gas. Soybean Donny better stack up some more happy tweets keeping them at the ready going forward.

The red rising wedge is a bearish pattern. The red lines show the negative divergence in play. The tiny green lines show a sliver of bullish juice remaining so that may create a jog move down-up before the top is placed, 2 candlesticks, in other words, a top should occur anytime over the next 4 hours. This would be the remainder of today's 90 minutes of trading and 2-1/2 hours tomorrow morning, say until noon or early afternoon Friday. This would be the window for the stock market top.

It appears the stock market rallies generated by President Trump, the Federal Reserve, and other global central bankers may be receiving less and less bang for the buck. Watch for a top in the SPX in the hours ahead. 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 2:32 PM EST: News reports say the US has reached a trade deal in principle with communist China. Soybean Donny delivers with those happy tweets. The SPX is up 25 points, +0.8%, to 3166.66. VIX drops to 14.14. Bulls are singing songs and carryin' on as they drink Fed whiskey and Chinese rice wine buying stocks with reckless abandon.

Note Added 2:43 PM EST: The SPX is up 23 points, +0.7%, to 3165. Banks are joyous. XLF +1.8%. KRE +2.7%. Regional banks celebrate higher yields and a steepening yield curve. VIX 14.24. 10-year yield 1.90%. Traders are swigging back Fed wine singing, "Happy Days Are Here Again." The future is so bright you have to wear shades.

Note Added 3:34 PM EST: The SPX is up 25 points, +0.8%, to 3166.66. News reports say a budget agreement is reached in Congress to avert a government shutdown. The joyous news knows no bounds. The VIX slips sub 14 for a few minutes.Copper +0.8%. Humorously, the President Trump theatrics and entertainment continues. The news wires say the US-China trade deal is a done deal, however, Trump apparently has to review the deal and see if he agrees to the deal, or not. Say what? Apparently, Soybean Donny is not involved in the trade discussions but then after Mnuchin and Lighthizer finalize the deal it is given to King Donny for his approval or disapproval. This stuff is hilarious. It is only actors on a stage. It will be interesting to hear more details in this so-called imminent trade deal.

Note Added 3:41 PM EST: The SPX gains 26.66 points, +0.9%, to 3169. VIX 13.93, check that, 13.86. The bears are running for their lives. VIX 13.83.

Note Added 4:16 PM EST: The SPX finishes up 27 points, +0.9%, to 3168.57 a new all-time record closing high and 3176.28 a new all-time high. VIX 13.94. The bulls walk around with their chests puffed out.

Note Added Friday Morning, 12/13/19, Friday the 13th, at 3:48 AM EST: After the US stock market closed, the news agencies report that President Trump signed-off on the trade deal. S&P futures pop from +9 to +15 and remain in this range overnight now up +12. VIX prints a 12-handle. Copper was up nearly +1% but now only +0.2%. The reaction is somewhat subdued. Boris Johnson remains prime minister with a strong victory in the UK election. Johnson won on the motto of 'getting Brexit done' while voters were put-off by Corbyn's alleged antisemitism. The pound rallies and UK stocks rally despite stronger sterling. European stocks rally. The US-China trade deal lacks details. All we know is that the Sunday tariffs will not be implemented and some amount of current tariffs will be rolled back. As the story develops, it is learned that the US and China agree on the terms of the deal but there is no text written for the deal. Pause for laughter. It's more of the same adolescent drama and theatrics that is getting old. S&P futures are at their overnight highs up +14 with the VIX trading at 12.97. Nothing has changed with the SPX 2-hour chart that remains in negative divergence and wanting to selloff. The positive news bites maintain stock market buoyancy.