Since the October 11 break of the Rising Wedge in the SPX the Daily Swing Chart has turned up twice once on a gap up and strong rally on Friday that wilted giving up all session gains and then another similar gap up yesterday which saw the index tail off again.

All this action is taking place below the declining 50 and 20 day lines.

We haven even mentioned the continued deteriorating internals which are shouting for the potential of violent capitulation.