The Klinger Volume indicator is showing a bearish divergence on the daily chart. It is still not a certainty, since the indicator must turn down for a few more days to cross its moving average (shown in yellow). I also require the divergence to be confirmed by other indicators. However, this indicator appears to be demonstrating higher prices but with a lower high on the volume indicator. If the S&P futures close below the EMA and then continue lower the following day, the bearish trend will be confirmed.
Monday, May 11, 2009
S&P Futures Show Bearish Divergence
