The 03/03/25 blog “The Three – Minute Rally” noted.
“In the very near – term if the SPX goes below its 03/03/25 bottom, watch the daily RSI.
In powerful moves up or down RSI bullish divergences are blown away. If the current daily SPX – RSI bullish divergence is erased, it could mean the SPX is only in the middle of a deep decline”.
Subsequently the S&P 500 (SPX) 03/03/25 bottom was broken, additionally the daily RSI bullish divergence was erased.
The daily SPX chart courtesy of BigCharts.com updates the action.
Because the SPX ended the 03/07/25 session far above its intraday low and above its 03/06/25 closing price; the slightly higher RSI does not qualify as a bullish divergence.
More importantly the daily SPX – RSI has yet to reach the oversold zone which begins at 30.00
Daily MACD – Histogram also has yet to have any significant bullish divergences.
Intraday SPX – Elliott wave pattern is not clear and open to several interpretations. Usually when this occurs a market usually continues in its main trend. Which in this case is down.
So far, the SPX has marginally gone below the Ending Diagonal Triangle – point of origin made on 11/04/24. The door is now open for a drop within the next one or two weeks to the September 2024 bottom near 5,400. Within that same time frame its possible for the SPX to reach the August 2024 mini – crash bottom near 5,100.
In bear markets surprises are made on the downside.
Four Dimension Trading 
For someone who trades penny stocks in size every day your stock market forecast is downright scary.
LikeLike