Weekly Mo Drops Further

07/06/2009 9:24 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

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The weekly RSI3 on the S&P 500 dropped further last week confirming the short-term negative divergence we noted two weeks ago. The weekly technical studies indicate that this is a correction in the rally from the March lows that will set up a good buying opportunity. I will give downside targets later today.

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