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S&P500 (Weekly). Rectangle Consolidation.

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FX:SPX500   S&P 500 index of US listed shares
198 0 3
Weekly Review. April Close.

2.5 month rectangle consolidation.
Salvaged weekly bearish engulfing candle.(Daily bearish in place-27/4)
Rescued 50 Daily sma .
Broke daily uptrend_line(for monthly Close April), on
increased volume . 30% above 65-day average (3rd
highest of year), signaling distribution. ( bearish )
Remains in consolidation.

Breaking the 2040 level, targets potential 1970.

3 month Volatility Index relative to the S&P 500            
Volatility Index (VXV/VIX ratio) remains at high levels,
since February highs. Current levels indicate struggling
progress. ( bearish )

The 5 day CBOE             total put/call ratio is relatively low
This suggests that the volume of puts ( bearish bets)
relative to the volume of calls ( bullish bets) is pretty low,
( bearish ).

Weekly Momentum is losing steam. ( bearish )

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