Posted by sbaxman111 on 2nd of Feb 2016 at 03:19 pm
RUT and other major indexes are extremely oversold on my 60
min chart as of 3;15 pm. About the only indicators that aren't
oversold are the RSI-14 and RSI-21 which usually take more than
just 2 days off of a peak to fall below the 30% line.
One caveat is that the RSI-2 levels for RUT, SPX, and NDX
are only in the 20's - but in the last 2 weeks or so we have seen
short-term bounces off of these levels. XLE has a similar extremely
oversold 60 min chart as well with a similar RSI-2 reading in the
low 20's. Scaling into any new Long trade at the close today is a
safer choice for me to consider.
At the same time TYX-TLT is extremely overbought, but with
an RSI-2 of 10.12 at the moment & a Fast Sto 9,3 indicator
reading of 0.00.
Posted by sbaxman111 on 2nd of Feb 2016 at 03:37 pm
I have 20+ short-term indicators on my 60 min chart. So far
in 2016 these same Long conditions existed on Jan 4th, 8th, 13th,
25th, and 27th. All of these made money the next day except for the
Jan 8th trade.
Anything can happen overnight, but Russell futures hourly closed
overbought (86.25) with a sell signal on a proprietary stochastic I
watch. I wouldn't take a trade off that signal and I'm not making
any prediction about tomorrow's open. My point was simply that I
don't see extreme conditions on any time-frame in the Russell
(except that they are closer to overbought than oversold on
everything from hourly down). This wasn't the kind of close that
typically rewards bulls, though.
RUT and TYX extreme conditions
Posted by sbaxman111 on 2nd of Feb 2016 at 03:19 pm
RUT and other major indexes are extremely oversold on my 60 min chart as of 3;15 pm. About the only indicators that aren't oversold are the RSI-14 and RSI-21 which usually take more than just 2 days off of a peak to fall below the 30% line.
One caveat is that the RSI-2 levels for RUT, SPX, and NDX are only in the 20's - but in the last 2 weeks or so we have seen short-term bounces off of these levels. XLE has a similar extremely oversold 60 min chart as well with a similar RSI-2 reading in the low 20's. Scaling into any new Long trade at the close today is a safer choice for me to consider.
At the same time TYX-TLT is extremely overbought, but with an RSI-2 of 10.12 at the moment & a Fast Sto 9,3 indicator reading of 0.00.
Thank you for sharing!
Posted by iz_bs on 2nd of Feb 2016 at 04:04 pm
Thank you for sharing!
RUT daily not close to
Posted by a_l_ on 2nd of Feb 2016 at 03:24 pm
RUT daily not close to oversold; hourly only oversold on fastest oscillators.
I have 20+ short-term indicators
Posted by sbaxman111 on 2nd of Feb 2016 at 03:37 pm
I have 20+ short-term indicators on my 60 min chart. So far in 2016 these same Long conditions existed on Jan 4th, 8th, 13th, 25th, and 27th. All of these made money the next day except for the Jan 8th trade.
Anything can happen overnight, but
Posted by a_l_ on 2nd of Feb 2016 at 04:15 pm
Anything can happen overnight, but Russell futures hourly closed overbought (86.25) with a sell signal on a proprietary stochastic I watch. I wouldn't take a trade off that signal and I'm not making any prediction about tomorrow's open. My point was simply that I don't see extreme conditions on any time-frame in the Russell (except that they are closer to overbought than oversold on everything from hourly down). This wasn't the kind of close that typically rewards bulls, though.
Thanks, sbaxman, those are very
Posted by isplat on 2nd of Feb 2016 at 03:43 pm
Thanks, sbaxman, those are very interesting stats!