dickysofa
63 posts
msg #89187
- Ignore dickysofa |
3/5/2010 6:52:09 PM
According to the oracle that is RSI(2), Monday should be a down day.
RSI(2) stats are:
VIX - 0.375 [oh my]
DOW - 97.703
S&P500 - 99.527
NASDAQ - 99.611
The DOW could potentially go up a tad 1 more day but it would require divergence from the S&P and the NAZZY because those muthas got nowhere to go but down.
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karennma
8,057 posts
msg #89228
- Ignore karennma
modified |
3/6/2010 10:54:45 PM
so noted.
;>)
edit:
I think it's time to start listing our best shorts.
JMHO.
:>)
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maxreturn
745 posts
msg #89231
- Ignore maxreturn |
3/7/2010 7:54:54 AM
"The DOW could potentially go up a tad 1 more day but it would require divergence from the S&P and the NAZZY because those muthas got nowhere to go but down."
May very well be but remember that RSI2 like any other oscillator can get stuck on OB/OS for long periods of time.
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gmg733
788 posts
msg #89246
- Ignore gmg733 |
3/7/2010 9:31:10 PM
The VIX closed below the BB(20) as well. This tends to be a good indicator that a snap back is expected. It is well off its MA(5) as well.
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sbuck143
88 posts
msg #89363
- Ignore sbuck143 |
3/10/2010 10:43:27 AM
How about that pullback, eh? :)
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dickysofa
63 posts
msg #89365
- Ignore dickysofa |
3/10/2010 11:22:35 AM
As Spock said, fascinating... I was wrong
The VIX RSI(2) reset by just having higher lows and not going higher.
Now the SPX, COMP & RUT have their RSI(2) at 99.9.
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karennma
8,057 posts
msg #89375
- Ignore karennma |
3/10/2010 1:15:08 PM
I'm looking at TZA.
super cheap right now.
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gmg733
788 posts
msg #89413
- Ignore gmg733 |
3/11/2010 8:24:46 AM
The interesting thing is vol increased as the market went up.
No one is wrong yet. It is all relevant to time frame. A pull back is due. What you can't control is the constant manipulation that is happening.
No one yesterday mentioned the possibility of a double top in the media. Only one person hinted about it in a round about way.
No one really knows what the market will do and when. But a pull back would be healthy at this point.
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Kevin_in_GA
4,599 posts
msg #89422
- Ignore Kevin_in_GA |
3/11/2010 10:10:36 AM
One method is to look at the cumulative RSI(2) values to see when they reach seriously overbought levels.
Here is a quick filter that looks at the 5 day cumulative RSI(2) for the major indices. Remember that the max possible value here is 500. I put lines at 150 and 450 since these seem to represent the thresholds which typically trigger a reversal:
Definitely looking at a near-term pullback. However, I would not short it given that the indices are all above their 200 day MA, and if you look at how short plays fared versus longs, you're better taking your money off the table for a bit instead.
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maxreturn
745 posts
msg #89434
- Ignore maxreturn |
3/11/2010 3:03:44 PM
Innovative idea Kevin. Nice work!
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