SPX S&P 500 2-Hour Chart; Overbot; Negative Divergence; Upper Band Violation; SPX Prints All-Time Record High at 3861

Here's the SPX 2-hour chart again since it has been of interest over the last week and you can keep studying this crazy topping pattern. Stocks were cooked this week and the spankdown begins (maroon lines). The tight bands (pink) were ready to squeeze out a big move and it turned out to be down. However, the Yellen Parade arrives in town creating a massive short-covering rally and the Biden Orgy begins pumping stocks into the stratosphere way up to a new all-time record high at 3861.45 today, 1/21/21, and new all-time record closing high at 3853.24 yesterday, 1/20/21. The all-time high is 3861 and all-time closing high is 3853; the highest numbers in the history of the stock market.

It is the palindrome days. Yesterday, 12021, today 12121, and obviously this will continue through 12921, Friday. Joe Biden was born on 11/20/42; the 20th of each month must be his lucky day (inauguration 1/20/21). The 21 is one-half 42.

Donnie Trump is gone; the king has left the building. Donnie will be forever Branded and must now spend the rest of his life proving, he is a man. Step forward, Donnie. Drummer, begin. Oh me oh my, the new guy looks a lot like the old guy. Oh, the Games People Play, now.

Price comes back up due to the promises of fiscal stimulus, monetary stimulus and vaccines for as far as the eye can see. The 12 PM EST noontime candlestick just started. On the stockcharts charts, the 2-hour candles print at 9:30 AM EST, which is the prior day's close, 10 AM, 12 Noon and 2 PM. So we have four candlesticks in a row at matching price highs. Since price keeps printing matching or higher highs, look at the chart indicators to see if they have more fuel (sloping higher; long and strong), or, if they are out of gas (sloping down; weak and bleak).

Like the top shown by the maroon lines the other day, the red lines show universal neggie d again so the top is in again in this 2-hour time frame. Money flow is trying to sneak out more juice for an hour or two but the expectation would be for stocks to roll over and die now. The upper band is violated so the middle band at 3814 and lower band at 3757 are on the table. 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 12:22 PM EST: 22 minutes after the munchtime candlestick started, the S&P 500 is down 3 points, -0.1%, to 3849. LOD 3845.05 so watch this number closely today. VIX 21.95. VIX HOD 22.22 so watch that number. That's wild, on 1/21/21, at 12:22, 22 minutes after noon, the VIX is near 22.22. Bears got nothing unless VIX moves above 24.77. UTIL is at 861 unable to attain 876 this week which should be creating trouble for stocks but Yellen, Powell, Biden and Lagarde are pumping the market as hard as they can. Wheeee! Whooppie! Wheee!.

Note Added 2:29 PM EST: USD 90.15. SPX 3858. VIX 21.20. The last 65-minute trading segment begins at 2:55 PM EST so the robots may trigger the start of sell programs between 2:50 PM and 3:00 PM. Bulls keep pumping stocks higher with the Fed's jackboots on the VIX's neck at 21.18 and USD getting forced to 90.14. Will volatility and the dollar collapse from here which will send stocks to the moon, or, will the VIX and USD bounce and jump higher sending stocks into the trash barrel? VIX LOD is at the 21.12 palindrome.

Note Added 2:59 PM EST: The RSI is sneaking up trying to create a higher bump (this would extend the top a couple hours). President Biden is speaking about covid. Sleepy Joe is wearing a purple tie which hides the jelly doughnut stain from this morning's buffet..SPX is at 3860, it's a pivot, price is trying to decide which way to break. VIX 21.16 with a LOD at 21.10. Bulls are pushing volatility lower but it is getting harder. Keep watching VIX 21.10-21.12 support.

Note Added 3:05 PM EST: Biden walks to a desk to sign more executive orders. Boooiiiinnng! Stocks pop the SPX up 9 points at 3861 teasing a new all-time record high.

Note Added 6:18 PM EST: The SPX ends at 3853.07 missing a new closing high by only 17 pennies. The new all-time record high at 3861.45 from this morning remains the record all day long. The SPX 2-hour chart is good to go for bears. The nub on the RSI disappeared so it is neggie d. Thus, stocks are expected to drop and the only thing that can save the day is happy talk, or happy news. This week we already had the Yellen Pump, the Biden Orgy, the Powell Put and the Lagarde Love so all of these folks shot their load for a while. The bulls may announce vaccine happy news that would be a possibility to save the day. Other than that, the bears should flex their muscles going forward. The SPX daily chart is neggie d across all indicators so it is good to go for a spankdown on the daily basis. This gels together with the smackdown that should now occur on the 2-hour. SPX weekly chart is neggie d across all indicators except the MACD line, however, this is a weekly candlestick and tomorrow still has to play out. If the SPX retreats a bunch on Friday, that could pull the MACD line down a hair, just enough to make it neggie d, and the top would be in on the weekly basis. If the MACD is still long and strong tomorrow when the week ends, the weekly basis will need another week or two to top out so the daily chart will send stocks down for a few days then back up a few days and that will be the top on the weekly chart. However, this turd of a stock market has needed to collapse for a while so expect the bottom to fall out at anytime. The low put/calls for an unprecedented length of time hints that this is a biggie top occurring in Q1. The top can be sorted out on the monthly chart as time moves along. Considering the universal neggie d on the 2-hour, daily and weekly except for that MACD, it is very likely a selloff begins now (the top was today) and will run for several weeks. USD drops down to 90.08 the dollar is testing the critical 20-day MA at 90.12. This pivot is huge. If the dollar fails here and goes sub 90.12, stocks will rally strongly higher. If the greenback bounces off the 90.12 support and heads higher, the stock market will tank. VIX is at 21.32 below 24.77 so the bears got absolutely nothing. If VIX pops above 24.77, the wheels will fall off the stock market. What do you think? Perhaps a Black Friday tomorrow? Maybe a Black Monday?