SPX is showing bearish divergence on the 6H between recent price action (Triple top pattern) and the Stoch RSI indicator. The Tenkan-san can be seen about to cross the base line, implying a bearish reversal. A similar set up can be seen in the daily. In the past few days, price has trended bullishly due to a weak TK cross (Weak due to the fact this occurred below the Kumo cloud), but has now hit resistance at a growing cloud, suggesting resistance is becoming stronger at this level.
Note
Right would be a good entry - Rigth on the Daily kumo
Note
Rejection started and a slight bounce on the daily baseline. Confirmation will be once the final shoulder is formed.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.