In last night's post I showed a weekly chart of the SPX mentioning that the indicators are close to losing their divergence on the MACD and RSI, here is the daily chart showing the same problem, the RSI is coming very close to making a higher high and losing any divergence over the price action. If the RSI does make a higher high in my opinion that shifts the longer-term trend bullish and opens the door for a 1-2, 1-2 count up. I normally use the extreme RSI readings to mark the top/bottom of a iii of 3 wave count because that is where extreme momentum should lay at, the end of the most powerful part of the larger wave structure. Having a new high on the RSI at this point there-fore would cause me to re-evaluate the entire wave count.**"Apart from NY" has a nice piece on Modern Economics that is worth reading titled, Financial Alcoholics and Enablers
The SPX continues to ride the gray bullish Fib fan line higher, having a solid break below this line would be a decent sign the SPX is finally breaking down
8:17, The Neo-wave chart that I posted last week is running right on target, very soon both triangles will be equal in terms of time, and the price target met at the upper corner of the green box.
Click here for a live, and updated chart!!!8:06, The indicators are back into over-bought territory and rolling over to a sell, support and resistance continue to be the same two channel lines, until the SPX can breakdown far enough to start making lower lows, the trend remains up. On the Russell, it has made a lower low, and did not make a new high this week so it is possible that the indexes are rolling over, but doing it painfully slow.
The Dollar has a fresh buy signal this morning from the Trendfinder, hopefully this time it will breakout to the upside and get out of this sideways trading range it has been stuck in for the last few weeks. $81.525 is the level it needs to exceed to make a higher high. 
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