Patience Is Needed: Traders, Stay SharpS&P 500SP:SPXThe_STAPatience Is Needed: Traders, Stay Sharp This week kicks off with a flurry of market-moving events: Nvidia’s earnings, Alphabet’s Berkshire bump, and the long-awaited return of government data releases post-shutdown. Futures are green, optimism is stirring—but beneath the surface, the charts are whispering caution. 🔍 S&P 500 Technicals: A Mixed Bag •The 55-day moving average remains intact. As long as it holds, the uptrend is technically alive. •But weekly RSI divergence is flashing a warning—momentum isn’t confirming the highs. •On the monthly chart, we’re at the top of a long-term channel dating back to 2009. Upside from here looks capped. •And yes, we now have a triple divergence on the monthly RSI. That’s not noise—it’s a signal. 📊 Macro Meets Momentum •The September jobs report lands Thursday, but expectations are muted. Private surveys already suggest a slowdown. •Rate cut hopes have faded fast: traders now see a 56% chance of a Fed hold in December, down from 94% odds of a cut just a month ago. 🧠 What This Means for Traders We’re in a wait-and-see phase. No sell signal We’re in a wait-and-see phase. No sell signal yet, but the setup demands discipline. The temptation to chase breakouts is strong—especially in AI and mega-cap tech—but the technicals say: patience is not just a virtue, it’s a strategy. Let the data land. Watch the close. Respect the signals. not trading advice