I marked the chart below to show the bearish divergence that seems to be developing. Further, I marked (black rectangle) where I believe the last push is likely to take the market as the bearish divergence occurs and creates a sell signal. It is only an area to pay attention to and is not necessarily a forecast as I have said time and again, that one should not invest based what they believe is likely to happen. It is just something to keep an eye on.
Notice MACD at 24.33 at the 1292 high. Today it sits at around 14. Maybe we won't make a higher high. Maybe we will blast off to much higher highs and much higher MACD levels. But just in case we make a higher high and MACD is still below 24.33 it will be nice to be prepared.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p17514767334&a=243753337&r=1152&cmd=print
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