Dow Industrials, 14 Day RSI 76.26

M

myminitrading

The last time the daily RSI was this high was on 12-22-03 the reading was 76.74.

This is politics in action the Dow Mini December futures contract had another very light day only 67k contracts traded.

You have to wonder who in their right mind would be buying right now, sure seems odd.
 
Quote from Bearbelly:

I dont know how many people are buying but I do know that very few people are selling and until that changes we are going up.
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I agree, I see a market that is very overbought, I realize it can keep moving higher, but the higher it goes without some retracement the harder it will fall.
 

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