Posted by sbaxman111 on 22nd of Dec 2015 at 02:54 pm
At 2:36 PM the RUT 60 min chart I use is extremely
overbought on a short-term basis. The only overbought pieces
missing right now are RSI-14 and RSI-21 above the 70% line. The daily RSI-2
is only at 69% right now (NOT very overbought), so if this trade is
still ST overbought at the close I would scale in a modest Short
trade.
TYX is also ST oversold and has an RSI-2 value of roughly
75%. Another possible scale in trade to go Long bonds at the close.
The 60 min 7,3 Stochastic signal is currently filling the entire
space above 80% for today - a pretty good indication of a possible
reversal the next day, or, at least. in the very near
future.
Transports are also extremely overbought on the 60 min
chart with a current RSI-2 value of 99.72% and it sits right at its
50 day line on the 60 min chart. The Trans have its RSI-2 indicator
filling the entire space today on the 60 min chart. Something that
hasn't happened since early October.
Possible trades today for me
Posted by sbaxman111 on 22nd of Dec 2015 at 02:54 pm
At 2:36 PM the RUT 60 min chart I use is extremely overbought on a short-term basis. The only overbought pieces missing right now are RSI-14 and RSI-21 above the 70% line. The daily RSI-2 is only at 69% right now (NOT very overbought), so if this trade is still ST overbought at the close I would scale in a modest Short trade.
TYX is also ST oversold and has an RSI-2 value of roughly 75%. Another possible scale in trade to go Long bonds at the close. The 60 min 7,3 Stochastic signal is currently filling the entire space above 80% for today - a pretty good indication of a possible reversal the next day, or, at least. in the very near future.
Transports are also extremely overbought on the 60 min chart with a current RSI-2 value of 99.72% and it sits right at its 50 day line on the 60 min chart. The Trans have its RSI-2 indicator filling the entire space today on the 60 min chart. Something that hasn't happened since early October.
sbaxman111 - thanks for your
Posted by isplat on 22nd of Dec 2015 at 03:17 pm
sbaxman111 - thanks for your post, and indeed all your input to the trading community!
Regarding transports, would you be shorting IYT, or do you have another instrument of choice?