Updated

Divergences: ES, US10Y

Starting off the day with diverged asset classes. 10Y note yields has gone lower while SPX futures showed some resistance and look like they are about to break out higher from the small (and a little bit crooked) wedge that formed. During writing of this post the divergence is disappearing :( SMI suggests downward move but this may not be the case. Watch closely along with european equities. Last monday was negative even though it was showing strength in the pre-open session. Watch the main trendline

Note

Rally train is arriving to the station. Will there be a trainwreck until it gets there?

Note

So far, we have a little leak in the downward sloping resistance. The horizontal resistance holds so far

Note

Broken, wait for the confirmation bounce up off, now, support

Note

2677 is the level to watch right now which lies on the upward sloping trendline (not on the chart) as spoos come crashing down. If it breaks, we will consider it as a confirmation of further price falldown

Note

Broke through the support.
2667, 2668 are the next S&R points

Slimsy

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Slimsy