S&P 500: Daily chart, Choppy market for the last 2 years, the price is at the upper part of the consolidation. Price is at a level of resistance 2112. Price action: formation "Evening star" - bearish reversal. Triple divergence: Higher highs of the prices but lower highs of the RSI indicator, CCI (50) moves below 100 - possible move lower from here on H4 Chart. Lower high - possible change in the direction to short. Price Action signal: Engulfing bar.
Correction about 50% of the Engulfing bar - good levels for a new short 2086. RSI Indicator is below 50, at the moment when the price moves below the 25 EMA - Negative signal.
Stefan D. Angelov - Head of Stocks Trading
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