- Springheel Jack
I was saying yesterday morning that a move like this is like a trend day, in that it can just keep on going through negative divergence, pattern setups etc etc etc. A decent example of that was the move up overnight but this has clarified the resistance trendline setup nicely and we might now be reaching a stage where this move be topping out.
I did the chart below last night and SPX has come close to testing the daily upper band again today. The daily upper band ride is likely ending here but bulls have another chance to try to reach it again tomorrow. SPX daily chart: