SPX Nearing A Top?

21 nov 2019

SPX appears to be losing momentum. Divergence with MACD and RSI is relatively flat. Came off the high and might be completing an abc off that local low. Should it hit a clean fib in the red box, it would be a good place to consider a short with a stop at the previous high. Pegging the exact point of reversal on a large trend like this is difficult, but it could make for a month or two swing trade with significant potential. SPXS will be my vehicle.