The SPX daily cash chart here has been rejected off the trend line resistance and is now testing the support from the previous high on the weaker USD/JPY. It is not a short setup because the price is too far from the kijun sen and the MACD is crossed up. It looks like it has some work to do before we get a clear direction. The chikou span is still above price on the daily here so lets see if it crosses down. You must be patient and wait for the setup to be confirmed. The weekly chart is in strong uptrend so you don't want to be too eager in entering counter trend plays.
The VIX is above 15 but it is early days. The MACD is crossed down but the stochastic has turned up.
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