Wait a second!

What was this "selling" at the close.  How can they do that?  You are suppose to hit the buy button at 3!
Finally some action in the market.  I haven't been posting, one because I've been busy but two the market sucked.  Everyday "The market is up", and some pundit is screaming "We have recovered, go out and spend, have unprotected sex, eat raw meat, earnings are doing great".  Each day the market ripped up and all you had to do was pick three letters and hit buy.

The bears finally did some damage today.   The first thing that should be smacking you in the face, is the beautiful double top.  The bears have claimed the 1095-1100 level their house and they will defend it. The selling was quick and fast today, breaking the 20 and 50 ema.  It stopped in no mans land close to support but not there, now the momentum may be down and that gap is looking like it needs to be filled.
One thing to note on this chart is the text book negative divergence.  Look how SPX made highs and each time MACD, RSI did not make a new high, it just trended down.  That my friends is BEARISH Divergence.

The Daily chart shows the divergence too and it's indicators look ready to roll over!

The divergence is clear in this chart and the negative trend in the MACD.  If the rally was a true rally as it was in March and July, MACD would have made new highs, confirming the move.