Going over todays price action on the SPX 5/8/26S&P 500SP:SPXJuvenalGomezIn summary were going over todays price action and our support and resistance levels in the SPX were in danger of confirming below the 21 day SMA and were never confirm a break our of our longer term dated parallel that has a 14 year negative divergence that in all its history when we touch it you either get a massive stall in the market, pull back, crash or the start of a bear market. Watch for our levels and watch if we do confirm below it! Also watch the 10 year bond market and the oil chart as that will give you more clues where this market is going to go. I ran out of time but the 10 year is looking to continue to go up and if that happens then i got to think were going to get follow through to the down side for one more day before we get a meaningful bounce. lets see what happens!