S&P500 daily update

Chop continuing and potentially a sell warning from the T oscillator.

S&P's need a selloff to recharge and clear some of the problematic resistance lines, but will we get a catalyst?

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.

start of recovery or lull before storm
trapped inbetween the bollingers and waiting for the catalyst.

Looks like we are breaking down through the diagonal support lines.

My guess is we try to recover here and then start dropping, looking for the next major low pivot.

So we had the usual holiday trade (mental note), whats next.

Not sure if this move will last much further, looks like we just keep sticking into resistance.

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…

Just hanging on by the skin of its teeth with another Fed worry day.
do we here the chime of sell in May again?

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.