SPX S&P 500 60-Minute Chart; SPX Prints New All-Time Record High at 3683; Overbot; Rising Wedge; Negative Divergence

The previous SPX 2-hour chart remains neggie d and you can clearly see the 60-minute chart above also in negative divergence. A spankdown is on tap. The bulls maintain elevated stock prices, and the SPX prints a new all-time high today at 3681.45, due to the continued vaccine happy hype and promises by Pelosi and McConnell that they will deliver fiscal stimulus sugar plums. Stocks are buoyant today since investors are hesitant to give up the ghost when a fiscal stimulus announcement may occur at any time. It does not make a difference what they think; the stock market is a floating turd currently, there is no other way to describe it. Sorry if you are eating lunch. Considering the low put/calls, elevated NYHL, other signals, and the neggie d on the SPX charts, stick a fork in it. It's cooked. 

Stocks also remain elevated due to the euro rocketing higher crushing the US dollar index lower sub 91 today deciding to live or die. Or, if you prefer, the weaker dollar sends the euro higher. It is likely more the former despite the analysts touting the latter. The weaker dollar creates buoyancy in the SPX. The ECB meets next Thursday which decides the fate of the euro ahead, and the dollar, and the stock market. President Lagarde scheduled a hair appointment for the day before.

The dollar slips to 90.63 with a LOD at 90.50. The buck is losing it, however, the dollar is not down as much as would be expected. It keeps holding on because Madame Lagarde will be the decider of everyone's fate in the days ahead. Germany, France and Italy are screaming from the rooftops; they cannot sustain a euro jumping above 1.20, then 1.21, then higher. The European exporters, multinationals and manufacturers are getting hammered. Lagarde is having difficulty sleeping. 

The Keystone Speculator's SPX 60-Minute Chart with 200 EMA Cross Indicator is a key market metric that tells you if stocks are in a short-term bull or bear. The 200 EMA on the 60-minute is at 3551. Price is above so the stock market is in a ST bull. As the selling takes hold, watch the 200 EMA. If 3551 is lost, it is lights out for the stock market. Equities will be falling in earnest.

Blow on this piece of garbage and it should roll over. The top is in for stocks unless Pelosi waves a fiscal stimulus banner. The US Monthly Jobs Report is on tap before tomorrow's opening bell so traders may be waiting for the BLS to bring the tablets down from on high and bestow that knowledge to Wall Street. 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 12:05 PM EST: The SPX is up 9 points, +0.2%, to 3678. HOD is the new all-time high at 3681.45. The closing price needs to be above 3669 for a new record. VIX 20.93. Volatility is trending higher for three days as the stock market moves higher. One of them is wrong since they should move inversely. Do you expect the VIX to collapse lower verifying more party time for stocks, or, do you think the VIX will jump higher at anytime sinking the US stock market? You can see what the chart above is telling you with the neggie d in the hourly time frame. US dollar 90.63. Euro 1.2144. Gold 1838. 10-year yield 0.92%.

Note Added 12:27 PM EST: The VIX stretches its legs and arms up to 21.07. SPX 3673. Fed Chairman Powell jumps onto Uncle Vix's back and wrestles him to the ground. The Fed is trying to keep volatility's face in the dirt so equities can thrive and reward America's wealthy class. LOD is 3668 so watch this level; if it fails, prices will likely then drop like rocks. Watch the transition to the last two 65-minute trading segments today the first is at 12:45 PM and then 1:50 PM then 2:55 PM EST. Watch these trading times give or take 5 minutes on each side to see if any large block sell programs begin triggering. The first transition is in about 15 minutes.

Note Added 1:58 PM EST: The VIX spikes higher to 21.51 so the SPX drops to the LOD at 3665. The SPX turned negative on the day at 1:49 PM but recovers.

Note Added 2:20 PM EST: VIX 21.20. SPX 3671. Euro 1.2141. Ho, whoa, ho. US dollar index is at 90.71 with the LOD at 90.51 holding. The euro is trying to move up but the dollar is not agreeable to moving lower. 99% of Wall Street analysts are short the dollar and are dabbing beads of sweat off their bald foreheads with a grey handkerchief. Stocks up=VIX down=euro up=dollar down and stocks down=VIX up=euro down=dollar up.

Note Added 6:50 PM EST: VIX 21.28. The SPX prints a new all-time high at 3682.73 but then drops to 3658, then finishes the day at 3666, on news at 3:31 PM EST that Pfizer will not meet its vaccine distribution goals this month. Euro 1.2146. US dollar index 90.70. Gold 1844. 10-year yield 0.91%.