Voume Spike at channel ceiling

SP:SPX   The S&P 500 Index
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This could be a normal strong volume on a breakout above 1810.00 resistance, however volume spikes following a sustained up or down trends usually signals a pullback.

If the index manages to break and hold below 1810.00 that may favor the bearish scenario, Otherwise bullish trend remains intact.
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Thank you for sharing! Nice idea for the next week.
Hello - I follow you and you have SOUND ideas and analysis. Thank you for sharing. Market is going to pullback... in the next weeks...there is little doubt.... as SKEW indicator is at extreme... 143 yesterday it has only been that high 3 other times since 1990 EACH with a big pullback... not necessarily the major Correction... but a 4-7% pullback. High levels have been seen in the past weeks over 130... but over 140 is the jugular to end this party. There may be a delay of a few days... but pullback with rise in 10 year means wooosh to the downside... thoughts? see...
Technician TOP stockSMASH
I thank you for the nice words, and the useful link you directed me to.
The CBOE Skew Index is meant to signal when investors are more concerned over a tail risk event(black swan), unexpected risk events. Given that, usually investors fail to be accurate at their worries and predictions, as markets continued to grind higher following extreme readings in skew index historically.

The point is, after printing an extreme reading in the SKEW index, then falling back to a low reading, here is where traders get caught in a move lower, which makes sense, as a lower reading in the SKEW hints markets complacency, which is usually a warning signal. Therefore, I differ in interpreting the SKEW index reading.
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