Slope of Hope Blog Posts

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An Awful Lot of Sell Signals

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A 15min sell signal fixed on SPX yesterday and at the close yesterday there were fixed sell signals on the 60min and 15min RSI 14s on all of the SPX, NDX and RUT charts. There was a similar, though weaker, setup back down at 1870 when this rally started, which was a major warning signal of reversal.

On SPX there is a near perfect rising channel so I’m calling the SPX pattern as that channel. Channel support is in the 2025 area and support at broken resistance in the 2020-2 area is a solid floor until SPX can sustain a move below it. There isn’t anything really going on the short side here until that happens. SPX 15min chart:

151020 SPX 15min Sell Signal