S&P500 wedges and divergence
The current monthly chart pattern for SPX appears to be an ascending broadening wedge, a bearish pattern contrasting with the prior pattern of a bullish descending broadening wedge which is now mirrored.
Evidence of a further decline in momentum is that the monthly RSI shows divergence.
Evidence of a further decline in momentum is that the monthly RSI shows divergence.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.