Tuesday, 21 September 2010

16:30 BST - NYSE Tick bearish divergence against SPX highs

This divergence between the price action and the NYSE Tick occuring in an overbought area seems to be supporting a pullback of some sort in the market:

NYSE Tick:

We saw a divergence in the Mclellan Oscillator yesterday too. So maybe things are starting to at least line up for a reasonable pullback (if not the start of a larger move down).