Some of the American stocks that had a strong bullish takeover are beginning to reverse in direction. This reversal might affect the $SPX. The $SPX price reached 2945 being our last analysis on $SPX in March shows it will reach 2946(https://faithmightfx.com/2019/03/13/sp-500-approaching-resistance/). That analysis was almost accurate. 2945 being the new resistance level of $SPX became the recent all time high price.
A breakdown has occurred from the trendlines which shows a reversal has started. Price of $SPX is currently at 2765.5. The candlesticks have crossed to the lower region of the Bollinger band indicating the strength of the bears in the market. Ichimoku is yet to show a reversal of the uptrend. This time when price reached an all time high, RSI did not show us overbought positions. Also, the penultimate time $SPX reached an all time high in 2018, RSI never showed us overbought positions before a reversal. Though, this week, $SPX has shown the bulls might be trying to takeover. This might be a deceptive bullish move. Price might reach 2547 depending on the activities of the bears.