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ES overshot the overnight low by 0.5 points for now. Question is will the possible gov't shutdown tank the bond market for a second day and trigger equity selling? ES downside targets are 2789 and possibly 2783.5 based on price action.
The other day “trades with cats” referenced SPX on 15min using RSI-14 … and noted that below 30 = buy most every time
(cats: please correct me if I’m wrong)
Here’s the RSI-14 behind IWM 15 min … interesting…
I didn’t draw red boxes for tops at 70, but that looks good too, DEPENDING ON YR TIMEFRAME
THANKS CATS
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
guess rangey into weekend, then avert govt shutdown rally comes early next week, then lots of earnings...if they suck, maybe we see some downturn, if not, next stop Pluto.
Wasn't me, it was Northman Trading's idea. His point was that someone was triggering a buy everytime RSI 14 got below 30 on a 15 minute chart, while a year ago it was the same on a daily chart.
My issue is that there is no good sell signal to go with it. Any reasonable stop loss and you are better off with buy and hold as not every drop is followed by a buy signal and sitting out a 50 point run up kills your edge.
Al_Dente wrote:AD bears are strong at the moment
(except bear volume on the nas is weak)
NY declining stocks = 2.7 x advancing stocks
NY declining volume = 1.7 x advancing volume
Nasdaq declining stocks = 1.8 x advancing stocks
Nasdaq declining volume = 1.0 x advancing volume
NY declining stocks = 2.8 x advancing stocks
NY declining volume = 2.2 x advancing volume
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.