Again a pennant but a bearish one this time on the S&P500
on the 5 minute chart u can spot the divergence clearly
"Bearish Hidden Divergence or bearish bear divergence occurs during rebound in a downtrend when oscillator makes lower form while the price is not, as in rebound phase or consolidation. This indicates that the seller is still in the market and the downtrend is still strong. The rebound movement is merely a temporary action of taking a seller profit rather than a strong buyer’s appearance and thus tends to be short-lived. As a result, the downtrend is more likely to continue".
"Bearish Hidden Divergence or bearish bear divergence occurs during rebound in a downtrend when oscillator makes lower form while the price is not, as in rebound phase or consolidation. This indicates that the seller is still in the market and the downtrend is still strong. The rebound movement is merely a temporary action of taking a seller profit rather than a strong buyer’s appearance and thus tends to be short-lived. As a result, the downtrend is more likely to continue".