Summation Index Turns Positive

03/24/2009 9:07 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart

The two positive divergences in the Summation Index were confirmed by the move through its 34 EMA after Tuesday's impressive gains. This intermediate-term indicator does suggest that stocks should make further upside progress. New highs for the year would be very bullish. S&P's downtrend is at 850.

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