Tuesday, September 8, 2009

$SPX - RSI in a channel...



Should see another little top soon....

I think the negative divergence in this RSI channel, gives the Bears something to look at, both in terms of another top, near term, as RSI hits the top of the channel (again), and maybe the final fall of these indicators below the 50 level on RSI and on the Ultimate Oscillator would constitute a sell signal, overall...

2 comments:

Hopper said...

Hi Mark,
maybe 9-9-9 may be a good date for a top? It looks like it will try

mlytle said...

Hi Hopper,
Possibly so....

Regards,
Mark L.