Posted by sbaxman111 on 10th of Aug 2017 at 12:53 pm
The RSI-4 value for the Russell 2000 Index is currently
below 10.00. If it closes below 10 it will be only the 8th time
this has happened in the last 5 years for the RUT. Each of the
previous 8 times led to a very nice rally within a short period of
time. This is just one piece of technical data at the moment
indicating an extremely oversold condition exits on a short-term
basis. The VXV/VIX ratio is another data point that is currently at
1.03 - indicating that a possible reversal in the near term is in
the cards.
But, given the potential concerns over the N Korea threat,
I intend to scale into any trades that I take for this extremely
oversold short-term condition.
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RUT RSI-4 Value
Posted by sbaxman111 on 10th of Aug 2017 at 12:53 pm
The RSI-4 value for the Russell 2000 Index is currently below 10.00. If it closes below 10 it will be only the 8th time this has happened in the last 5 years for the RUT. Each of the previous 8 times led to a very nice rally within a short period of time. This is just one piece of technical data at the moment indicating an extremely oversold condition exits on a short-term basis. The VXV/VIX ratio is another data point that is currently at 1.03 - indicating that a possible reversal in the near term is in the cards.
But, given the potential concerns over the N Korea threat, I intend to scale into any trades that I take for this extremely oversold short-term condition.