At the moment the RUT and MID both are short-term overbought as they have the standard daily 20,2 %B indicator at or above 1.00. Combined with my other 60 minute short-term indicators that I use to confirm this overbought condition, I will take a SHORT trade at the close today. Also overbought short-term are Naad, NAADV, and NYAD. This combination of signals has done really well in recent weeks in providing successful short-term long and short trades for RUT or MID.

Given the underlying trend in the market is still Bullish, this trade is very likely to be just a one day reversal trade. The pattern has been to get these short one day reversal which are followed by nice 1 day gains going back Long again.

Similar short-term signals for this type of SHORT trade post Brexit have basically just been treading water on a net gain/loss basis. At the moment the RUT has an RSI-2 value above 95% - the highest reading since July 12th at 98.05.