Yes, SPX did close at resistance but the rise today was very strong. I don’t expect big up day tomorrow but I don’t expect a big down day either.
I need to go through more charts but here is a 15min SPX chart, levels coming later (or not, can’t see anything of importance right now..).
15min SPX
We could actually see some weakness tomorrow (or +-0 day):
– Buy trend negative divergence with SPY price
– Volume flow on DDM is weakening
– SPY closed with a climax-up-spike
But as long as we stay in that bullish channel, I would not short this market at the moment.
Divergence in buy trend and price.
Volume weakening on DDM 60min. Climax on SPY last bar.
