Posted by sbaxman111 on 11th of May 2018 at 11:17 am
SPX significantly overbought data - At 11:05 am, the 60 min
SPX chart currently has both RSI-14 and RSI-21 indicators above the
upper 70% line .....something that doesn't happen very often
statistically in the data that I keep track of - indicating a
severely overbought index on a short-term basis. Today is also the
7th day in a low to high daily RSI-2 pattern, which ties for the
longest daily RSI-2 uptick so far this year. Today is the third
straight day where the SPX RSI-2 is above the 90% level. The ULT
7,14,28 indicator is also above its upper 70 line, and the daily %B
20,2 indicator is right at 1.00. Lastly the VTX (14) indicator is
currently green and above the 1.40 line.....a place where reversals
typically take place in the near future.
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SPX significantly overbought data -
Posted by sbaxman111 on 11th of May 2018 at 11:17 am
SPX significantly overbought data - At 11:05 am, the 60 min SPX chart currently has both RSI-14 and RSI-21 indicators above the upper 70% line .....something that doesn't happen very often statistically in the data that I keep track of - indicating a severely overbought index on a short-term basis. Today is also the 7th day in a low to high daily RSI-2 pattern, which ties for the longest daily RSI-2 uptick so far this year. Today is the third straight day where the SPX RSI-2 is above the 90% level. The ULT 7,14,28 indicator is also above its upper 70 line, and the daily %B 20,2 indicator is right at 1.00. Lastly the VTX (14) indicator is currently green and above the 1.40 line.....a place where reversals typically take place in the near future.