Monday pre-market*It appears we are going to get a huge positive opening today on the SP-500 from news of the Chinese loosening its Yuan peg to the US Dollar.*This should set up a great opportunity to short the SP-500 and sell the miners. I will try to let you know if/when we get there today or tomorrow.*Divergences work both ways. Sometimes they foretell a bullish move and sometimes they foretell a bearish move. This morning's chart shows BOTH a bullish divergence (#1) and a bearish divergence (#2).*If this morning's gap opening pushes price up to a new relative high, as it appears it will, the TSI will be in an impossible position to confirm the higher price (#3?). Once the TSI begins to roll over (along with the MACD histogram) it will be time to not walk, but run for the doors.*Click on the chart to ENLARGE
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