Friday, May 18, 2012

SPY via RSI signal

I wouldn't be surprised at all to see the Dec 2011 lows taken out on this current down turn and in fact RSI (9 day) signal is calling for it. The chart below is distorted (RSI indicator dragged with mouse higher with the time frame stretched wider) This gives the appearance that May 2011 and May 2012 highs are too far apart to be related enough to each other to be all one RSI signal.  I'm playing it as if they are both very much relevant to the RSI sell signal weekly basis...

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