Last week I pointed out in my article that the SPY price chart had a bearish rising wedge pattern, and that there were negative divergences on various medium-term indicator charts. This week we can see that the rising wedge remains intact, but the expectation is that it will resolve to the downside. We can also see the persistent negative divergences on another set of indicators–the percentage of stocks above their 20EMA, 50EMA, and 200EMA.