or does it ?
SPX seems to be trapped in a with accompanied negative divergence.
It may run out here right now with the break of the up trendline, it may make another new temporary high,
nevertheless , the air gets thinner... nearly as Felix Baumgartner's attempt today, but his flight into very thin air was stopped due to high wind.
The after having not responded with a higher high on the latest S&P price move, seems to have broken its own trendline to the downside.
Well, I am not only short S&P , but also long ... is very cheap here and a correction is imminent... which usually after this very nice broad rally in global markets will be mirrored with higher (spiking ?) vola.
S&P500 : still short , market has reached 38% retracement (1395) and also knifed through the 100d SMA (1402).
I will cover the short at 1388, which was my original target and coincides with the 200d SMA.