Saturday, April 2, 2016

Current rally is running on fumes and a concrete wall is approaching fast!

Current SPX rally although impressive is running on fumes.There are numerous divergences in RSI, MFI and NYMO suggesting at least a significant retrace.
SPX is approaching fast a very strong area of resistance at 2075-2125 where a huge distribution happened for several months last year. 



Next couple of months will be very interesting....