Can The SPX Be Tiring?

I’d be tired if I were the SPX. We’re still holding a 15m bar uptrend and an uptrend line on the daily charts, so the minor sell offs we’ve seen the last 2 days are normal in relation to their current over extension from the trendlines. We almost had a record close today but just missed with the flurry of selling in the last half hour of the session. If we pull back tomorrow, keep on eye on the 2 trendlines from the 15m and daily charts. If we move up, then no surprise there either. The green dot is highlighting the key support area on the trendline of the 15m chart. Also note that we are sitting atop of the channel on the daily that was established back in January. This could also act as new support.

SPX Daily Chart



SPX 15m Chart