The e-mini S&P stock index futures bulls are still in firm near-term technical command as prices earlier this week hit a contract and record high. There are no strong, early technical clues to suggest this market has topped out. However, see at the bottom of the chart that the Moving Average Convergence Divergence (MACD) index is poised to produce a bearish line crossover signal, whereby the blue MACD line crosses below the red trigger line. The S&P bulls may be getting tired. (“Sell in May and go away.”) Price action the next few days could be extra important for the U.S. stock indexes, from a technical perspective. Stay tuned!–Jim