Bullish CP Divergences from Open.Pwr. at or soon after important market bottoms:

SPY Charts: 1998, 2001, 2003, 2009, 2010, 2011, 2018, 2020, 2022.

Similar divergences appear on DIA, QQQ and NASDAQ charts.

We can also study how the blue Closing Power topped out when market
set up to decline again.  Instead of continuing to rise, it starts to gradually back
often as a new month begins. See September 2021, November 2021, end of
December 2021 and April 2022.  Look for CP top patterns (H/S) and drops
below 21-dma when it is flat.

 2022
 SPY22DIV.GIF (12632 bytes)                                                                       
 1998
  SPYDIV98.GIF (15582 bytes)                                         
 2001                                                                                    
SPY01DIV.GIF (13029 bytes)
 2003
SPY03DIV.GIF (13405 bytes)
 2009
  SPY09DIV.GIF (14104 bytes)        
  2010
  SPY10DIV.GIF (13586 bytes)             
  2011
SPY11DIV.GIF (13616 bytes)
  2018
SPY19DIV.GIF (10600 bytes)
  2020
SPY20DIV.GIF (11299 bytes)