SPX Technical Analysis 1. The August peak was accompanied by notable divergences in the McClellan Summation Index ($NYSI) and RSI. 2. $NYSI, the swing trend indicator, is still pointing downward. 3. After breaking below the middle Keltner and the June high technical support with a doji candle, SPX bounced back to the middle Keltner. 4. This was a sort of mini bear trap. 5. Ideally, the next target is still the lower Keltner and the 50D MA. 6. Convincingly above the middle Keltner, SPX could target the upper Keltner.
Published Sep 03, 2026Updated Sep 03, 20262 min read
SPX Technical Analysis 1. The August peak was accompanied by notable divergences in the McClellan Summation Index ($NYSI) and RSI. 2. $NYSI, the swing trend indicator, is still pointing downward. 3. After breaking below the middle Keltner and the June high technical support with a doji candle, SPX bounced back to the middle Keltner. 4. This was a sort of mini bear trap. 5. Ideally, the next target is still the lower Keltner and the 50D MA. 6. Convincingly above the middle Keltner, SPX could target the upper Keltner.
