Twitter resistance is falling for SPX with people only talking about 1380, 1390, and 1400. Coming out of the early June bottom people were more optimistic with the old highs as their target. It appears that the volatile nature of this up move is reducing expectations. While there are fewer people talking about the June lows as a target or support they have lowered their target to between 1320 and 1330.
The Downside Hedge Twitter Sentiment Indicator for the S&P 500 continues to paint a triangle pattern showing uncertainty in the market. As the market moves higher twitter sentiment is compressing and showing a negative divergence with price. It continues to stay below zero which is net negative for market prospects going forward. On the positive side sentiment rose today even as the market sold off hard.