Weekly Mo Positive, but…

06/08/2009 9:47 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

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The weekly RSI3 (Mo) turned back up last week, which is a positive sign, but makes this week's close in the S&P 500 more important. A lower weekly close could cause the Mo to turn lower, forming a short-term negative divergence. This would increase the odds of a two- or three-week correction.

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