OJ

$SPX June monthly pivots: MR1=1684, MR2=1738, MP=1632, MS1=1578, MS2=1526. open gaps: 1598, 1582

by @mpgtrader a day ago via Twitter

We got a "red brick" on the BPI Renko chart,which is an early indication for a trend reversal. Chart from link on SoulJester's RLS Blog.

Spx

Price overshot the rising 1x2 on the weekly chart and then broke back below with a bearish shooting star candle.Best guess now is for a correction to the rising 1x1 line. The overall pattern looks like a rising wedge

Here is the daily SPY chart with a displaced 4dma and a 21 day weighted ma,and we can see a big black candle on Friday that took out the last daily swing low and 3 daily highs so we should see some more weakness next week. We are 1 year from an important low, Gann's 360 degrees in time
The abandoned baby candle on Tuesday was a bearish signal and made a LH

Tunnel through the Air

http://www.youtube.com/watch?v=CW3jby5VGkE

HSBC looks poised for a significant decline,after the false break pattern and large bearish engulfing candle . Interestingly,LLOY and BARC don't look as poor