But who cares it's been there for a while we not for another year or so :-). These divergences tend to last quiet a while. Some of them is actually not tradable unless you area a multi billion dollar fund !!!
I do not understand the issue "Not tradable". Most of the pull back was at ^RUT(IWM), but not mainly at SPX. IMO, SPX Last Thursday/Friday was the bottom, now reversed from bottoming, going up until next peak, may be appx 7-10 days. I just bought TQQQ/TNA last Thursday/Friday holding it.
samitrading
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@Jiltin, Hey buddy, "Not tradable' long term divergences such as the one above between SPX & % of Stocks above 50d MA . But as you have pointed short term is 100% tradable .