S&P Outlook

11/10/2008 9:31 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart

The weekly RSI3 on the S&P 500 is still rising from historic oversold levels despite last weekʼs lower close. It may turn lower with a down close this week. The daily RSI on the Dec. S&P futures formed a positive divergence at the late Oct. lows. A move back above 1000 could signal a rally to 1100-1150.

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