Look out, below?

Monday pre-market
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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.
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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.
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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).
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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.
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Click on the chart to ENLARGE