Wednesday, December 31, 2008
S&P Cash 15min Chart Shows Major Bearish Divergence; Dec. 31, 2008
Another quick note, above is the 15min S&P cash chart which shows all three momentum indicators at the bottom of the chart are not confirming the huge rally in the index. And the MACD is actually crossing lower and in the red even though the market continues higher. This doesn't tell us when the market will drop lower, but it tells us that this rally will be reversed at a large degree.