SPY is showing a bullish divergence on the CCI indicator. Could this mean that the market will move higher in the weeks to come. Maybe, I think we have reached a temporary bottom and head higher or channel for a few weeks before heading south once again.
The Russell and the Dow are both showing the same divergence. Only time will tell if this divergence is true.
Wednesday, March 04, 2009
Bullish Divergence?
Labels:
Bullish,
CCI,
divergence,
SPY
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