SPX S&P 500 2-Hour Chart; Overbot; Rising Wedge; Negative Divergence; Upper Band Violation; Stock Market Top At Hand

For the 2-hour chart, Stockcharts prints a candlestick at 9:30 AM EST for the open, then 10 AM, then noon, then 2 PM then 4 PM EST so five candlesticks each day. The 10 AM candlestick begins printing so it is a good time to see how the chart is progressing. The bulls continue last week's upside orgy and are not worried in the least. Every day is happy without worry.

The SPX keeps exhibiting topping behavior on the hourly and daily charts but is saved by the Fed, or fiscal stimulus, or happy vaccine talk. You can see the neggie d (red lines) plain as day, rising wedge, overbot conditions and upper band violation. This is the top. Today should be interesting. Strap yourself in and place that helmet on your head. Happy talk is the only thing that can save it. 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 10:03 AM EST: The SPX is up 4 points, +0.1%, to 3355. HOD 3362.05. Dow (DJIA or INDU) +0.8%. Nasdaq (COMPQ) -0.4%. Nazzy 100 (NDX) -0.5%. Are you an idiot that bot the market at SPX 3362?

Note Added 10:12 AM EST: The S&P 500 is up 6.66 points, +0.2%, to 3358. Bulls celebrate with glee. VIX 22.48. Powell and Evans are drunk off Fed wine singing songs and carrying on. The booze is flowing like water on Wall Street. Everyone is so ecstatically happy at being born in such a time where building wealth is effortless and during a pandemic that has already killed over 164K Americans. Life is grand.

Note Added 10:21 AM EST: The S&P 500 is up 6.66 points, +0.2%, to 3358. What do you think? Are you buying stocks with reckless abandon? Do you feel lucky, punk?

Note Added 10:33 AM EST: The S&P 500 is up 6.66 points, +0.2%, to 3358. VIX 22.18. Gold 2031. Copper jumps +2.6% creating stock market joy. 10-year yield 0.56%.

Note Added 1:22 PM EST: The S&P 500 is up 6.66 points, +0.2%, to 3358. Dow +1%. Nazzy Comp -0.3%. Russell 2000 +1.4%. VIX 22.17. Traders are standing around looking at each other wondering if a shoe will drop. 10-year yield 0.57%.

Note Added 1:40 PM EST: The S&P 500 is up 6.66 points, +0.2%, to 3358. 

Note Added 2:53 PM EST: The S&P 500 is up 6.66 points, +0.2%, to 3358. 

Note Added 3:52 PM EST: The S&P 500 is up 6.66 points, +0.2%, to 3358. 10-year yield 0.58%.