We had very positive technical signs go off on a number of portfolio positions today. We also had bearish divergences go off in a few positions we recently initiated small short positions. I have written at length on RSI divergence as one of the few technical indicators I find useful. Divergence the best technical indicator. The following positions all showed bullish or bearish RSI divergences today:
Bullish RSI Divergence
NAV Navistar at $51.89
INTC Intel at $21.01
IO ION Geophysical Corporation at $8.03
TMV Direxion 30 YR Treasury Bear 3X at $34.32 (note this has not been very reliable)
MDT Medtronic at $37.47
TYO Direxion 10 Yr Treasury Bear 3X at $38.08
PLCE Children’s Place at $43.69
LOGI Logitech at $10.61
Bearish RSI Divergence
OFIX Orthofix at $42.07
LULU Lulemon at $106.80
ULTA Ulta Salon Cosmetics and Fragrance at $62.88
TPX Tempur-Pedic at $66.30