2use
Short

Republishing SP500, NAS - NEGATIVE DIVERGENCE ON RSi

FX:SPX500   S&P 500 Index
Such a pity the original idea was posted with a bug/error/issue and did not display what i actually meant to show - and i need to use other colors for charts as well. This is what happens when you use other people's charts.The original one pointed out to divergence in RSI with the high of the S&P             and other indices, and it was the best point to sell. I wish more people could see that chart and hope that at least someone benefited from it.
Dipping below the previous low is not a good sign. Even if it rebounds from here
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looking at this chart, this was a bullseye. wish I had of seen it 3 weeks ago.
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2use TomPower
I also wish it reached more people - look at where it rebounded
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Zacks newsletter today "Our strategy of going 100% long may be early…but early is different than being wrong. That is because perfect timing of the market is impossible on a regular basis. You’ll never buy at the absolute bottom or sell at the tippy-top. You just want to be in the ballpark on a consistent basis"

I guess this may have been one of the charts that could beat this statement. Gives a whole lot of meaning to the "stick to your plan for 100%"
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ok, so what now? keep selling?
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2use alorch
At least watch what you are buying and if you don't like to take risks, wait for a BUY signal you consider the best. So far, i am not seeing it - and IMHO it will go lower today (see pre-market data) and possibly further on for some time (with occasional bounces). I would advise not to fall for the bounces straight away, markets never post reds in a row (unless a crash) and they wont go green in a row either (see this weeks yesterday and the day before). I forgot to add Volume to this chart, but the selling volume is higher, so i keep on the sidelines.

Also, check what people post on large cap stocks - TSLA is down 6%, other stocks are predicted to have a bearish tendency, and the whole sentiment is bearish. Do check my recent posts on the markets, i had some post on a possible bounce level here
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Thank you for your thoughtful answer. IMO markets are pricing in unsustainable post QE season when bulls will be on their own to justify levels and rallies. It's the end of high earnings season for.... the foreseeable future? Lots of headwinds and major technical damage to leading stocks. I still look for buying opportunities when signs of oversold indexes flag. Not for beginners!
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