So Here We Are Again

On Tuesday I was looking at the obvious resistance trendlines on SPX that might be hit this week in the 2885-2900 area and I’ve been watching those since. This morning they have been hit at 2891/2 with a possible hourly RSI 14 sell signal brewing, so this is an important inflection point and possible swing high area. I talked about that before the open this morning and this is the full version below of my premarket video also covering the usual wide array of future and forex instruments.

Full Premarket Video from – Updates on ES, NQ, RTY, DAX, ESTX50, SPX, NDX, RUT, CL, NG, GC, SI, HG, ZB, KC, SB, CC, ZW, ZC, ZS, DX, EURUSD, USDJPY, USDCAD, AUDUSD:

On the 60min chart the rising wedge resistance hit is pattern resistance for the move up from the December low. We currently have a precise hit of the trendline but there is always a possibility of a bearish overthrow of course, so SPX could go a little higher. SPX 60min chart:

The hit on the smaller rising wedge resistance trendline from the 2722 low is equally precise, but equally could overthrow. SPX 15min chart:

In terms of negative divergence there are already SPX daily (weak) RSI 14, hourly RSI 5 and 15min RSI 14 sell signals fixed, with possible weekly RSI 5, hourly RSI 14 and 5min RSI 14 sell signals brewing here. This would be a great place to see the turn. We shall see. 🙂

Stan and I are doing our monthly free public Chart Chat on Sunday afternoon. If you’d like to attend you can register for that on our April Free Webinars page. Everyone have a great weekend!

Written by:

Richard Chappell

Jack is a 20 year retail trading veteran and co-founder of The Art Of Chart. He started his blog at in 2010 and since has published tens of thousands of charts looking at hundreds of trading instruments across most tradeable markets, doing original work mainly in the areas of trendlines, patterns and divergences. At The Art Of Chart Jack has taught trading skills, technical analysis, and the discipline and trader psychology that allow those to be used effectively in trading.

05th Apr 2019

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