Posted by sbaxman111 on 25th of Jul 2017 at 12:19 pm
At just past 12:15 am the S&P 400 Midcap index has a
60m RSI-21 value of more than 72.60% along with a 60 min RSI-14
above 78.3%. This same pattern just recently occurred on July 19th,
and led to a short-term pullback of almost 0.90% by the morning
opening range on the 21st.
This is the 7th time this combination has occurred in 2017
- all of the previous patterns led to at least a short-term decline
in the Index within a short period of time.
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S&P 400 Mid Cap index extremely overbought short-term
Posted by sbaxman111 on 25th of Jul 2017 at 12:19 pm
At just past 12:15 am the S&P 400 Midcap index has a 60m RSI-21 value of more than 72.60% along with a 60 min RSI-14 above 78.3%. This same pattern just recently occurred on July 19th, and led to a short-term pullback of almost 0.90% by the morning opening range on the 21st.
This is the 7th time this combination has occurred in 2017 - all of the previous patterns led to at least a short-term decline in the Index within a short period of time.