Well, the market really has no right to stop here or anywhere close to here, but we all know that the random walk ended back in '09. TA says it's ready for a larger correction. So why did it fall? As we all know the market only moves where and when they want it to, but in this case could it have been possible that when the liquidity stopped they actually lost control for a moment? Who stopped the liquidity and why? Is it a reaction to policy failure, a threat to Trumps success, a desperation move from the PTB, to cause a distraction from something - all possible. The nefarious or devious reasons should be more palatable to those of you that have been on the fence for years now. Personally, I think they cut the liquidity to shock the market to cause a distraction - look here - not there.
SPX 2hr - Breaking back into this channel would not be good. Channel resistance will cap upside potential for quite sometime. How overbought? Well when you overthrow the channel via a rising wedge and then overthrow that rising wedge - it's beyond OB on a massive scale.
SPX 60m - Sub 40 there is little if any support to 2300. Yesterday I was discussing the 2310
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