We printed a down trending price bar on the daily cash S&P500 on Tuesday but finished well off the lows. With the lower close there is now bearish divergence on the daily chart between the RSI and the Composite Index; a technical sell signal to accompany the in-place TD Sell Setup.The first support level I am watching is the Fibonacci level at 956; the short Gann moving average (solid red line) is heading that way quickly. Of great interest is the new TD Demand line (dashed red line just above yesterday’s price bar). A confirmed, qualified break of that line points to another large run up - but I am not going to count chickens before they are hatched!
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