CHARTS_CCI_SYSTEM

[rimshot]

S&P 500 cumulative net Advance-Decline line printed a new record high today Wednesday July 15, 2020 by a small margin over the prior record high

http://stockcharts.com/c-sc/sc?s=%21ADLINESPX&p=D&yr=0&mn=8&dy=0&i=p77866363677&a=776818534&r=1594874108832

** the $SPX price action daily RSI-14 is notably negatively divergent vs. the $SPX June price high and the RSI level at that time

http://stockcharts.com/c-sc/sc?s=%24SPX&p=D&yr=0&mn=10&dy=20&i=p39194776096&a=589367469&r=1586708460313

the July 15 A-D line new record high by a slim margin more likely represents bullish confirmation than any other technical condition relevant to S&P 500 index price action and Advance-Decline action in the future ... at least one yearly of the 2010 through 2012 swing highs and in other years for the $SPX price action coincided with bounce highs for the S&P 500 index A-D line, so the new record is not always a reliable bullish confirmation, in terms of a trader relying on no imminent large correction to immediately follow

Important note -- upside A-D line follow through is a must going forward to support the future bullish case for $SPX price action