The Bottom

One chart that I like as a confirmation indicator is the S&P 500 minus the Dow Jones Utilities. The Dow Jones Utilities are where money managers tend to hide when the S&P is in a downtrend. So, this chart is simply calculated, I divide the S&P by 4.0 and subtract the DJU from that number. It had a big turnaround today, chart calculated at 2:45 PM CDT.

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