26 Jun 2015 - Below 20 Day

The SPX should be closing below its 20day moving average.  This adds to the bearish case even if we expect a rally.  A corrective move up is expected, but with the weekly closing on a neg. bias chances are that there are more downside moves in store.

The bulls need an impulsive move up and finally break that high made in May, but this type of move would surely make a negative divergence as price accelerates leaving the signal behind.  Eventual bearish sentiment would prevail.

MT: UP
ST: DOWN
PA: NA

Support - 2098 SPX