These are the important levels that I am watching on the SPX monthly chart. A monthly candle close to the upside above 2105 would indicate a potential move higher. A monthly candle close below 1890 would be a confirmation of a top reversal. Until we see one or the other then this is a consolidation. You can see there is a small band that price is in now. The lower limit on that band is 2070. It will be interesting to see which way this breaks. I expect a break below the 2070 band would see a test of the kijun sen. With the MACD crossed down you would expect a break to the downside would be more likely.
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