Weekly trend break for S&P
![Image](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtP0QL8KFkmedJKuDz48JNlVupyP0ocaBIhyYELrInIJ_T-45-XDTIQJiFP1-JYbI_8OhYZj5Hu5w2cK6RNnJzSEjxtz-PwTBJ7uxh46Nb0XiYoP-lGd_0-kMpqAD4bZrY9NjFFOl2xniKX8TcD7N7R_VhaMAug6dZqk4trr3RAe4pQvgjctbw/s1600/SPX_Oct28d.png)
Daily charts show indices in a bit of a freefall, so focus shifts to weekly timeframes. The S&P was the last of the lead indices to break weekly-trend support, lining up the 200-day MA for the next support test. Volume climbed to register as distribution, rubbing salt into the wound of bulls. The only positive for bulls is that intermediate stochasics [39,1] are above the bullish mid-line, but with other technicals turning negative it's unlikely to stop the rot.