S&P 500’s Trading Pattern Echoes 2011 Bottom: Technical Analysis – Bloomberg 06-07-12

Salient to Investors:

Equities may rebound: 5-month low in S&P 500 last week  is similar to its 2011 low, as the 14-day relative strength index again stayed above lows.

Predictions:

BTIG  said divergence of market lows and RSI  is bullish for the next six weeks.

Auerbach Grayson said the false breakdown below the 200-day moving average RSI divergence are bullish