The $SPX's RSI is in a channel...

Comment

Comment by Mark Lytle on September 9, 2009 at 12:18am

Yes, I think the negative divergence in this RSI channel, gives the Bears something to look at, both in terms of another top, near term, as RSI hits the top of the channel (again), and maybe the final fall of these indicators below the 50 level on RSI and on the Ultimate Oscillator would constitute a sell signal, overall...

Comment by Steven Vincent on September 8, 2009 at 10:39pm

Are you pointing out a negative divergence between price in a rising channel and RSI in a declining channel? That would seem to support the bearish view. I would like to get Andrew Cardwell's opinion on this chart...he's "the RSI Guy". I suggest sending him a message and asking for his comment here. Thanks for posting!