Wednesday, March 04, 2009

Bullish Divergence?

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.

No comments: