SPX Proejcted Downturn

Any momentum oscillator that is thrown against this chart shows bearish bias (MACD, RSI, etc.). There is a huge divergence in momentum from the previous highs. Using anchored fib the zone of a probable pullback can be established and is shown in the chart. I expect the S&P to enter into the 2500 area before a resumption of uptrend can continue. Some artificial inflation could also be at work prolonging the correction and potentially making the initial drop more sudden and floor-falls-out-ish! Caution near the highs... Huge Elliott Wave and fib resistance level. Play the pullback into May and then look to go long through the rest of the year.