TECHNICALS- NAZ COMP

I mentioned in my post last night that I anticipated a Positive Divergence to appear shortly on the SPY. We do not have to wait on the NAZDAQ as the momentum indicators pictured above including MACD Histogram, Rate of Change and Stochastics all show higher lows as the COMP has come back down and retested last week's lows.

Again, the general rule is that the momentum indicators bottom before the markets and hopefully that will be the present situation and the markets can go higher.