Posted by sbaxman111 on 31st of Oct 2017 at 11:28 am
The current overbought condition,
where the WEEKLY RSI is over 70, has only
occurred only a handful of times over the last 20-years. While the
reading alone has not always been indicative of the onset of a
full-fledged bear market, corrections in the market were often
close by. With the market more overbought now than at any other
time over the past 20-years, some caution is advised.
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Weekly RSI-14 over 70%
Posted by sbaxman111 on 31st of Oct 2017 at 11:28 am
The current overbought condition, where the WEEKLY RSI is over 70, has only occurred only a handful of times over the last 20-years. While the reading alone has not always been indicative of the onset of a full-fledged bear market, corrections in the market were often close by. With the market more overbought now than at any other time over the past 20-years, some caution is advised.