Recently, there have been noteworthy changes in the technical aspects of the S&P 500 Index. The rise since early April (considered as the Elliott Wave Theory) has shown a top divergence on the weekly Relative Strength Index (RSI), which is often interpreted as an initial signal that the market may become Overbought.

Despite referencing the previous third wave trend, the current rise may still experience multiple top divergences before ultimately peaking, which means the bull market may continue for a while. However, it is worth noting for investors that the future upward space may already be relatively limited.

The changes in this technical indicator remind us that even in a strong bull market, the market does not always only rise. Investors should remain vigilant and closely follow subsequent market changes and other economic indicators to timely adjust their investment strategies.

At the same time, we must also recognize that technical analysis is only one aspect of investment decision-making. Factors such as the macroeconomic environment, company fundamentals, and geopolitical issues also have a significant impact on market trends. Therefore, a comprehensive analysis and a cautious attitude are crucial for achieving success in the current market environment.