The cash S&P500 edged higher yet again yesterday as I continue to wait for a routine 1-4 price bar pullback in the index. Today’s chart shows both the Composite Index (top pane) and Relative Strength Index (RSI) (middle pane). A turn down in the RSI here will cause a bearish divergence between it and the Composite Index; a technical sell signal to accompany the in-place TD Sell Setup.
Tuesday 28 July 2009
Edging Higher
The cash S&P500 edged higher yet again yesterday as I continue to wait for a routine 1-4 price bar pullback in the index. Today’s chart shows both the Composite Index (top pane) and Relative Strength Index (RSI) (middle pane). A turn down in the RSI here will cause a bearish divergence between it and the Composite Index; a technical sell signal to accompany the in-place TD Sell Setup.
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