Stock markets rebound with bullish divergence.
Source: http://stockweb.blogspot.com/2008/10/stock-markets-rebound-with-bullish.htmlPosted on Tuesday, October 28th, 2008 | In Stocks to Watch
Contributed by: Vlada Kynsky (http://stockweb.blogspot.com/) -
The picture above shows 6 months chart of S&P 500 (SPX). Buying appetite is pushing indexes up. There are not positive news on street today. Consumer confidence worst in decades. But this market is just simply oversold and bargain hunters are choosing this Tuesday for picking up undervalued stock. At the chart you can see interesting pattern in S&P. Very strong bullish divergence with RSI. Similar picture can be seen also with Dow or Nasdaq.
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 About Vlada Kynsky (http://stockweb.blogspot.com/)
Vlada Kynsky studied economics and gained work experience as SAP analyst in information technology. His origin is in Czech Republic but due to different work assignments lived in many European countries. He explores mainly emerging markets. In his research he focuses on ETF and international stocks. Another area of interest are technology stocks. |
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