i agree, a falling of RSI doesnt mean a falling off a trend or a signal to trade, it is an indicator of weakness no more.
The S&P 500 is close to bottoming for 2018
- Thread starter volente_00
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RSI as an indicator of weakness?
Yes it can work this way when one compares how RSI moves in comparison to a bunch of other commodities, but as a standalone on just one commodity, no.
Two different things.
Relative Strength and Relative Strength Index.
Best to not comment if you don't know the difference.
Err, you don't obviously know how to use an indicator in ways they weren't intended, it's called thinking outside the box and needs to be done via an algo, not by sighting charts.
So, today was a slower day and consolidation as expected. My original bias for today was a positive close, but the market (ES) turns out weaker than expected. Let's see where we end up by the cash session close.
NQ on the other hand is much weaker and have been in the red all day long.
I'm thinking we resume the selling by tomorrow.
NQ on the other hand is much weaker and have been in the red all day long.
I'm thinking we resume the selling by tomorrow.
Nothing to do with outside the box or an algo (meaningless catchphrase or two) and everything to do with you not knowing there is a difference between RSI and Relative Strength.
That.