RSI divergence predicted this pullback . (See my Rsi)
Short term it looks to be heading back to wedge support.
The banks were the culprits behind the SPX hitting ATH all year round and this week they were mostly responsible for the SPX pulling back. Help from the tech sector has kept it from being a complete wash, but now the QQQ is looking like its headed for major pullback. So where does that leave Spx? the answer is Banks but banks need a bounce from the The 10yr yields...
Macd just performed deathcross on daily chart
Short term it looks to be heading back to wedge support.
The banks were the culprits behind the SPX hitting ATH all year round and this week they were mostly responsible for the SPX pulling back. Help from the tech sector has kept it from being a complete wash, but now the QQQ is looking like its headed for major pullback. So where does that leave Spx? the answer is Banks but banks need a bounce from the The 10yr yields...
Macd just performed deathcross on daily chart
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