Dear readers, Despite the mostly disappointing results, S&P500 is about 2% below its all-time high. Will S&P500 continue to march higher and breach its all-time high of 2,135? Read on to find out more. S&P500 Index Just to recap what I have mentioned on 8 Apr 2016 (see here), I wrote “S&P500 may consolidate between 1,980 – 2,080 with a downward bias. A break below 1,980 on a sustained basis negates the bullish tinge in the chart.” –> S&P500 breached 2,080 on 18 Apr 2016 after consolidating and touched an intraday high of 2,111 before closing at 2,092. Based on Chart 1 below, although S&P500 formed a new five month high on 20 Apr 2016, indicators such as MACD and RSI have exhibited bearish divergences. ADX slightly increased from 19.8 on 8 Apr 2016 to 20.8 on 22 Apr 2016, indicative of a lack of ......