Option Investor
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The daily SPX charts shows a very nice bullish divergence. Price made a swing high on February 9th and a lower high on March 26th but the MACD made a higher high at the March 26th high. Based on this, I believe the retracement we have seen this week will end sooner rather than later (I thought around 750) and when the rally resumes price will break the March 26th swing high.

[Image 1]

I am even all the more convinced of this scenario when I look at the weekly SPX chart. March 6th price made a lower low but MACD made a higher low. Then on March 26th price made a lower high but MACD made a higher high. These bullish MACD divergences cannot be ignored.

[Image 2]

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