markrivest
Short

Stock Market Decline Continues

SP:SPX   S&P 500 Index
60 0 3
There was a chance today, 11/2/16 for the SPX             and other main US stock indices to rally in to the FOMC announcement.
Early in the day there was a failed attempt at a move above the late day bounce made on 11/1/16. After the FOMC the SPX             made a new decline low and register significant bullish divergences on the 30 min RSI and MACD . Strong resistance is now at 2117.60. If the SPX             can rally on 11/3/16 be alert for a possible top anywhere between SPX             2113.10 and 2117.60.

Also watch the NDX vs. the SPX             . Intraday the NDX has been underperforming the SPX             . If intraday the NDX fails to confirm a SPX             peak, it could be another signal of a developing top.

If the SPX             fails to move above 2113.10 and goes below 2094.00 it could be a very bearish signal.

Mark
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