SPDR S&P 500 (SPY)

[steveftw]

glen - I'm seeing quite a few indicators showing positive divergence - but they almost all seem to be some type of breadth measurement, not the less indirect rsi divergences we can see on oil & the dollar/yen trade.

I'm not sure how valid those breadth measurements are - I really haven't played with them before.

However, what sticks in my mind is that all-time low on McClellan earlier this week - how much of a negative divergence is that - record low on that indicator, but another news story to prop up the market.

I'm having trouble finding reversal signals in the individual equities - I guess my forecast is partly sunny to mostly cloudy, not partly cloudy to mostly sunny.