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S&P 500
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1.06%
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US TECH 100
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Post# of 148479
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ajtj99

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ajtj99

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Monday, 12/03/2007 4:05:04 PM

Monday, December 03, 2007 4:05:04 PM

Post# of 148479
FWIW, the BPCOMPQ (BP Nasdaq) has a bullish positive divergence on the RSI-14 on the weekly chart.

This actually pretty rare, as the BP's tend to trend up or down.
The last time this happened from what I can see was on the SPX in Sept. 1999 and Feb. 2000.

Those bottoms were 19-weeks apart while the August and Nov 2007 lows were about 14-weeks apart. The resulting rally to re-test the highs in 2000 took 4-weeks, and there was a 5% higher high made on the SPX.

There was also a dump off that high to test the Feb. low, and a subsequent trading range from that Feb. low to the all-time highs before the lower end of the range gave way later in the year.

Something to keep in mind here.

http://www.investorshub.com/boards/board.asp?board_id=1613
AJTJ's Market Pulse
Do your own DD. Void where prohibited. Observed side effects include darkening of the stool, spontaneous amputation, and death. Rosebud.

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