Bearish Daily Divergence even if prices bounce up today

The chart below shows that SPX will have a negative bearish divergence with price vs. RSI, even if prices bounce up today. This would be the second such divergence. A divergence in the daily chart is more significant than one in a 60 minute chart.

The divergences suggest that even if SPX bounces today, lower prices are ahead nonetheless.

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".