AI

The hypothesis that a double top pattern in the daily RSI (Relative Strength Index) above 70 often leads to a near-term pullback has some support in technical analysis literature. Several sources provide insight into the behavior of RSI in overbought conditions and its implications for potential pullbacks.

1. RSI Overbought Conditions: When the RSI exceeds 70, it indicates that an asset is overbought, suggesting that a pullback may be imminent. Historical data shows that selling signals triggered when the RSI crosses below 70 after being above this level often correlate with short-term price declines ( Quantified Strategies) ( TradingSim).

2. Double Top Pattern in RSI: The double top pattern in RSI, where the RSI hits above 70 twice before pulling back, is considered a bearish signal. This pattern indicates that momentum is weakening, even though the price may be reaching new highs. It often precedes a price reversal or pullback ( Quantified Strategies) ( Quantified Strategies).

3. Backtesting Results: Backtesting of RSI-based strategies generally shows that signals from overbought conditions (RSI > 70) can be profitable. For example, a study of the S&P 500 using a range-momentum trading strategy based on RSI showed that while such strategies do not generate frequent signals, the ones they do produce are often profitable. This implies that overbought conditions, particularly with confirming patterns like a double top, can indeed lead to significant pullbacks ( Quantified Strategies).

weekly KISS updated as well, and emails sent out

https://breakpointtrades.com/sts_weekly/?search=BPT_basket 

Meaningless, in fact. Look at Japan - they just announced they've been in recession for 3 quarters, and Germany, and the list goes on. All of the above are either making or have made recent market highs. It's all about currency debasement - almost 100%. Once that variable in plugged in, it all starts to make logical financial sense.  I know my analysis became orders of magnitude less complicated once I figure it out this seemingly obvious but not so obvious fact (the gaslighting is heavy when it comes to getting people to look in other directions for explanations - you get hammered as biased if you say currency dilution is causing market rallies). I was honestly a bit frustrated until it really clicked....and I mean it had to REALLY click...then I was fine. Game on - I just had to understand the game because my stupid personality demands it for some reason. Life would be easier if I just blindly followed trends but that's not me. 

that is MAG-nificient!

Wasn't expecting the VIX bellow 12 today ... was thinking early next week ... lol ..  They will bankrupt it ...   

sorry I was trying to post this in time but BA just popped. here's the image, BA had a fairly large offer there at 184.18, here is shows 4103 shares offered there, but it was 7,000  - when those large offers match a resistance level, generally you get a quick pop once that offer is taken out

anyway price took that offer before I was able to post, but this can be an educational example

Did some deal with AI - so naturally up big