I forgot to mention this in the newsletter, but the RSI 2 closed
below 2% on the S&P 500 today, this has only occurred 25 times
over the past 23 years when the SPX was above its 200 day MA. As
the Statistics show, the odds of getting a least a short term
oversold bounce are high
The RSI 2 statistics that I posted last night were the RSI 2
closed below 2% on the SPX, that will close out today since it
exits after 1 day. Again it says nothing about the market, do
not use it like that. The whole point of those stats were to
show you that when the RSI 2 falls below 2% on the SPX daily, it's
due for at least a 1 day bounce. That's what it got today
from now on in the future when I notice things like that RSI 2
closing below 2% on the index, I'll send out an intra day email in
the afternoon so that you have time to act on it if you want to.
For some reason I didn't notice it yesterday even though I keep up
on these RSI 2 systems. Anyway if the market closes up, it
will exit since that strategy only looks for a one day bounce
SPX 500, the RSI close below 2% today
Posted by matt on 10th of May 2012 at 12:58 am
I forgot to mention this in the newsletter, but the RSI 2 closed below 2% on the S&P 500 today, this has only occurred 25 times over the past 23 years when the SPX was above its 200 day MA. As the Statistics show, the odds of getting a least a short term oversold bounce are high
The RSI 2 statistics that
Posted by matt on 10th of May 2012 at 03:16 pm
The RSI 2 statistics that I posted last night were the RSI 2 closed below 2% on the SPX, that will close out today since it exits after 1 day. Again it says nothing about the market, do not use it like that. The whole point of those stats were to show you that when the RSI 2 falls below 2% on the SPX daily, it's due for at least a 1 day bounce. That's what it got today
from now on in the
Posted by matt on 10th of May 2012 at 10:14 am
from now on in the future when I notice things like that RSI 2 closing below 2% on the index, I'll send out an intra day email in the afternoon so that you have time to act on it if you want to. For some reason I didn't notice it yesterday even though I keep up on these RSI 2 systems. Anyway if the market closes up, it will exit since that strategy only looks for a one day bounce
Thanks for posting that, Matt.
Posted by sethbru on 10th of May 2012 at 02:36 am
Thanks for posting that, Matt. I went way long today, so now I can sleep. :-)