SP500 RSI Divergence

FX:SPX500   S&P 500 index of US listed shares
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I believe that two digit decline of stock market in china last August may have triggered the turn and recently FMI Chief Executive Madame Lagarde said it anticipated or revised global economy growth to mild. Both of this events are being reflected in the SP500             as we have been seeing RSI divergences for the couple last months. Those are clearly defined in the weekly and monthly chart.
Divergences appear when price keeps going in one direction whilst the indicator itself shows a decreasing tendency on the overbought area or between 100 and 70 values.

See also lines drawn on the price chart and on the area below the price chart. Visually speaking and looking at those lines they diverge from each other.

This also marks the end of a 6 year long bull market since roughly march 2009.

On the other hand and on the smaller timeframes one can see a rebound of the SP500             which in my opinion are translated into medium-term short opportunities with a target of the 1500 point on the SP500             .

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