ajtj99's Market Pulse

[shoreco]

More impotantly is/was the action of the RSI during the last 2 months of new index highs.

Lower RSI with a higher index price = negative

You'll also notice the +DI (green) and crossed below the -DI (red) on the ADX indicator (need to keep an eye on this)

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&b=5&g=0&id=p04814426321&a=6530777

Look back to March 2003 when the Green crossed above the red on the monthlies (bullish)

It's too early to call the Bull dead, but a trip to SPX 1350ish would be very healthy.

http://stockcharts.com/h-sc/ui?s=$SPX&p=M&b=5&g=0&id=p24349280473

It's the rise from there that will be questioned about who's stronger (The bull or the bear)...

Good Trading,
Shoreco