$SPX with PPO
Here is an updated chart of 
SPX with PPO set to mimic the 250EMA.
As always with this chart, I am looking for signs of negative divergence between price andSPX's 250EMA. At the moment we do have slight or local negative divergence between price and the 250EMA and while this is the way declines usually begin I'm not so sure we're getting ready for a decline at the moment. The reason I don't think we're on the verge of a pullback of one degree or another is the fact that the last two declines began after a slight pull back followed by double top-type action with very clear negative divergence.
I would have to say at this point that if history is of any value then we would need to see a pullback of from 3-5 days starting soon and followed by a new high that includes very clear negative divergence. If we don't get a set up like that, then I would have to consider the current negative divergence as just a wrinkle on the chart. However, we do have negative divergence and so this needs to be watched over the next 3-4 sessions to make sure this isn't more than a wrinkle.
Be careful and GL.
SPX with PPO set to mimic the 250EMA.As always with this chart, I am looking for signs of negative divergence between price and
SPX's 250EMA. At the moment we do have slight or local negative divergence between price and the 250EMA and while this is the way declines usually begin I'm not so sure we're getting ready for a decline at the moment. The reason I don't think we're on the verge of a pullback of one degree or another is the fact that the last two declines began after a slight pull back followed by double top-type action with very clear negative divergence. I would have to say at this point that if history is of any value then we would need to see a pullback of from 3-5 days starting soon and followed by a new high that includes very clear negative divergence. If we don't get a set up like that, then I would have to consider the current negative divergence as just a wrinkle on the chart. However, we do have negative divergence and so this needs to be watched over the next 3-4 sessions to make sure this isn't more than a wrinkle.
Be careful and GL.
Aviso legal
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