StockFetcher Forums · General Discussion · DOW, S&P, NASDAQ & the VIX - RSI(2), it's DOWN time...<< 1 2 >>Post Follow-up
dickysofa
63 posts
msg #89187
Ignore dickysofa
3/5/2010 6:52:09 PM

According to the oracle that is RSI(2), Monday should be a down day.

RSI(2) stats are:

VIX - 0.375 [oh my]
DOW - 97.703
S&P500 - 99.527
NASDAQ - 99.611

The DOW could potentially go up a tad 1 more day but it would require divergence from the S&P and the NAZZY because those muthas got nowhere to go but down.

karennma
6,825 posts
msg #89228
Ignore karennma
modified
3/6/2010 10:54:45 PM

so noted.
;>)

edit:
I think it's time to start listing our best shorts.
JMHO.
:>)


maxreturn
745 posts
msg #89231
Ignore maxreturn
3/7/2010 7:54:54 AM

"The DOW could potentially go up a tad 1 more day but it would require divergence from the S&P and the NAZZY because those muthas got nowhere to go but down."

May very well be but remember that RSI2 like any other oscillator can get stuck on OB/OS for long periods of time.

gmg733
618 posts
msg #89246
Ignore gmg733
3/7/2010 9:31:10 PM

The VIX closed below the BB(20) as well. This tends to be a good indicator that a snap back is expected. It is well off its MA(5) as well.

sbuck143
88 posts
msg #89363
Ignore sbuck143
3/10/2010 10:43:27 AM

How about that pullback, eh? :)

dickysofa
63 posts
msg #89365
Ignore dickysofa
3/10/2010 11:22:35 AM

As Spock said, fascinating... I was wrong

The VIX RSI(2) reset by just having higher lows and not going higher.

Now the SPX, COMP & RUT have their RSI(2) at 99.9.

karennma
6,825 posts
msg #89375
Ignore karennma
3/10/2010 1:15:08 PM

I'm looking at TZA.
super cheap right now.


gmg733
618 posts
msg #89413
Ignore gmg733
3/11/2010 8:24:46 AM

The interesting thing is vol increased as the market went up.

No one is wrong yet. It is all relevant to time frame. A pull back is due. What you can't control is the constant manipulation that is happening.

No one yesterday mentioned the possibility of a double top in the media. Only one person hinted about it in a round about way.

No one really knows what the market will do and when. But a pull back would be healthy at this point.



Kevin_in_GA
4,538 posts
msg #89422
Ignore Kevin_in_GA
3/11/2010 10:10:36 AM

One method is to look at the cumulative RSI(2) values to see when they reach seriously overbought levels.

Here is a quick filter that looks at the 5 day cumulative RSI(2) for the major indices. Remember that the max possible value here is 500. I put lines at 150 and 450 since these seem to represent the thresholds which typically trigger a reversal:

Fetcher[

symlist(spy,dia,qqqq,iwm)

set{cumulativeRSI2, sum(rsi(2),5)}

draw cumulativersi2 line at 450
draw cumulativersi2 line at 150
draw ma(200)

chart-time is 1 year
]



Definitely looking at a near-term pullback. However, I would not short it given that the indices are all above their 200 day MA, and if you look at how short plays fared versus longs, you're better taking your money off the table for a bit instead.

maxreturn
745 posts
msg #89434
Ignore maxreturn
3/11/2010 3:03:44 PM

Innovative idea Kevin. Nice work!

StockFetcher Forums · General Discussion · DOW, S&P, NASDAQ & the VIX - RSI(2), it's DOWN time...<< 1 2 >>Post Follow-up

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