Weekly Indicators Bottoming?

04/08/2009 1:59 pm EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart

The weekly RSI on the S&P 500 formed a bullish divergence at the March lows and a move through the long-term downtrend in the RSI will confirm an intermediate-term bottom. The Fibonacci fan line is currently at 950. This chart will be discussed in more detail in this week's Trading Lessons e-letter. Click here to sign up—it's free!

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