Tuesday, June 28, 2011

SH looking pretty good

A weekly chart of the S&P 500 itself does not show the inverse of what the inverse S&P 500 ETF shows.
I see a bullish divergence in weekly 14-bar RSI. If the March high is taken out.....

3 comments:

patrick neid said...

The market is still standing despite the continue assault of bad news going on almost six months. Good news would be shocking!

joed said...

I think it was you who that recently mentioned GM.
I thought it was, at a minimum, an honorable mention but today it performed like excrement.

I think it might be a good sell here.

Great work as always......

Quick Takes Pro said...

joed, GM was a Chart of the Day a few days ago with some bullish signs.