Interpret price action in the chart below, combined with takeaways from the SPX New High-New...

Confirmation between price action and indicator; the ongoing pullback can be bought.

Divergence between price action and indicator; suggests exiting of long positions.

Divergence between price action and indicator; can initiate shorts at current levels.

Can initiate long positions at current price level; breadth bottomed out at the same level as the pullback in October 2014.