Divergence A quick intraday update, considering the charts are revealing some divergences about the market in here. Apologies if I am simply applying the KISS method of TA for these charts. However, I do believe Einstein once said, “Everything should be made as simple as possible, but not simpler”. Here’s hoping to finding that balance.
The Transports and the Russell are rubbing up against their February highs today.
The Nasdaq, SPX and Dow are lagging. However, the SPX’s RSI is below where I would expect a retracement.
The US Dollar is directly below resistance. However, the RSI has broken through its negative divergence.
The MSCI World Index ex/US appears to be rolling over.
The DJWorld Index w/US is below its February highs. However, the RSI is hitting resistance today.
Gold can’t seem to find its balance and has been all over the place over the past month. That’s information in of itself.