I will post the chart later, but as I said, you can see the huge RSI divergence on the daily charts 2 months frame. Based on the weekly chart reaching the lower BB today, it usually bounces from there up to the SMA. 3200-3250 range.
At the moment, we haven't even filled yesterday's cash gap, so we've got work to do hier. Pricing is 3093 now.
So this ATH was the 3rd top in the last 2 months, the previous tops giving tradable pullbacks, specially the 2nd one. There is a very nice BB bounce (entry long at 3215ish) after the 2nd top's drop. The following consecutive upgaps were just ridiculous, sign of the overheated market. The divergence is very strong, A-B-C going down while we were getting higher highs. There was also a topping formation on smaller time frames. interestingly, the Dow never made a higher high after my top call.
I'm sure you're aware, whether price is rising or falling at a constant rate, RSI gravitates the opposite direction toward 50. So any constant trend will give an appearance of divergence on the RSI.
That is not true. Counter example: In the last 2 hours we had 3 tops (5 mins chart) and the RSI also has risen during the same period. Or 2 days ago when the market kept falling all day, so did the RSI(from 40 to below 20). There was a double bottom at the end of the day (2:30 and 3:30pm) finally with an RSI divergence and sure enough we bounced the next day at the open.
Stop being a baby asking to be spoonfed! Answers are in my thread, I don't give a shit whether you go there to get them or not, but I won't spoon feed you.
Shhh ... we need the contra-trend-lemmings to buy and sell divergences on trend days to milk 'em for all they're worth.