S&P 500’s Trading Pattern Echoes 2011 Bottom: Technical Analysis – Bloomberg 06-07-12

Salient to Investors:

Equities may rebound: 5-month low in S&P 500 last week  is similar to its 2011 low, as the 14-day relative strength index again stayed above lows.

Predictions:

BTIG  said divergence of market lows and RSI  is bullish for the next six weeks.

Auerbach Grayson said the false breakdown below the 200-day moving average RSI divergence are bullish  

Read the full article at http://www.bloomberg.com/news/2012-06-07/s-p-500-s-trading-pattern-echoes-2011-bottom-technical-analysis.html

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