S&P Daily timeframe price action created a rising wedge. The price retested previous high and reversed from 1426.68 only to find support at 20 period SMA. Current support on downside could potentially be found at 1380 which is the falling trend line followed by 1365-1370 ( 38.2% Fib Retracement and 50 SMA levels ) and subsequently at 1346 which is 50% Fib Retracement from the current highs. Alternatively if the price action spikes higher breaking above the current high of 1426 and creates a Daily close above that level the next resistance could be located at 1440-1447 level. Indicators like MACD and Stoch are creating bearish crossovers at overbought levels. Also Volume is falling indicating possible Negative Divergence