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Futures are unchanged after yesterday’s pullback.
Today is the last day of the month/quarter and we need to expect some volatility as window dressing should be seen.
The bear’s divergences remain in place and the economy is heading in the wrong direction with the Fed handcuffed.
Once the bears are squeezed (maybe they already have been) we will see another downward push and taking out the 4100 low has high odds.
But as I have been saying, until the bears can push the spx below the 4520 support, the bulls remain in control. -Gary Dean
SPX Hourly Technicals
Stochastics: Overbought
Divergences: Bearish Divergences
Resistance Pivots: R1-4615 R2-4630 R3-4640
Support Pivots: S1-4591 S2-4578 S3-4552
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