head ripping off

If we are going up watch to see the action at the upper bollinger c 2125, also previous all time high.

Assuming positivity today I would suggest that a new T structure is now forming, possibly even stretching out to mid june and even mid july.

Chart of S&P 500 for 11 May 2015

Mayday

Nasty sell off yesterday confirming the previous days Sell Warnings.
The OSC oscillator now potentially confirming a Sell Signal too, but it would been preferable for a rise above the black boundary first.

Sitting on 55ema which is a bull/bear line so lets see which way it goes…

Chart of S&P500 for 1 May 2015

shake out

Bit of a shake-out yesterday allowing weak hands to get out.
A good example of early morning sell-off and shows importance of monitoring these situations.

'Should' allow for a climb into the projected peak now.
Note: correspondence with 70 day peaks.

Chart of S&P 500 for 29 April 2015