The S&P 500 for a while now has been forming a bearish divergence between the price action and the volume (green arrows), leading me to believe this upward run is coming to an end.
Today we've seen a further sign of this, as the blue (and black backup) trendline has been broken.
So now what?
- Support at 3065. So expect a bounce there.
- Consolidation between the support at 3065 and the resistance at +-3200.
- The behaviour in this range will tell us more about future direction.
Today we've seen a further sign of this, as the blue (and black backup) trendline has been broken.
So now what?
- Support at 3065. So expect a bounce there.
- Consolidation between the support at 3065 and the resistance at +-3200.
- The behaviour in this range will tell us more about future direction.