Replies to post #47629 on Short Term Trading Member Forum

[techcharter]

SPX Top is IN

E-wave count looks complete from the November and end of December 2012 lows. Today was a bearish engulfing pattern. The RSI and stochastics showed bearish divergences with price. The VIX was starting to get a little more volatile before the price top arrived, effectively a bearish divergence.


For the next 2 weeks the trend should be down.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p87530429976

http://stockcharts.com/h-sc/ui?s=$VIX&p=D&yr=0&mn=6&dy=0&id=p65919208183