Still no "Buy" Signal on the Weekly Chart

Although it was a topsy-turvy week when viewed day-by-day, when the dust settled the latest price bar on the cash S&P500 weekly chart was once again downtrending. Even though we haven’t yet dipped below the January low we are at another new closing low. Thus; even though last week’s chart showed “potential” for a technical “buy” signal, we still don’t have one. The potential is still there but we still need to see both price and the RSI indicator turn up with bullish divergence in place. It is something I just have to continue to monitor.