Are people on TV or in newspapers or magazines calling this a "bull market"? I don't pay attention to the media.
RSI 90+ on DIA
- Thread starter S2007S
- Start date
1. The proper way to use RSI, per Wilder, is divergence. Doesn't yet exist. Then........it has to break.
2. I remember an author escaping me, suggesting an RSI (14) at 74 as a buy signal (with exits 10 RSI points below its ultimate peak)
3. No denying the market is over-bought. Oscillators can remain over-bought for extended periods.
4. Until the ADX peaks, and clearly rolls over, you're wishing.
5. DIA is NOT the Dow. Volume, and rotation varies for each of the 30 components.
6. Wall Street's function is not capital formation. "They're" going to sell paper as long as they can. This includes rotation and help from the media..
7. Until the # of new lows exceeds 50, it's a healthy market.
8. Ahhhh, short selling can be so seductive. Problem is, the maximum gain from any price point is an unlilkely 100%. Of course, you spend points not percentages.