A lot of overbought

Discussion in 'Trading' started by trader1974, Mar 14, 2019.

  1. Snuskpelle

    Snuskpelle

    It was very horizontal a few days ago.

    Besides positive vertical => more positive to come often enough for the above to at least be a non-signal or at worst (for you) a counter-signal.
     
    #11     Mar 15, 2019
    murray t turtle likes this.
  2. trader1974

    trader1974

    I am out of the market. I do not like what I see. A lot of optimism
     
    #12     Mar 15, 2019
  3. %%
    And over bought is so stinking subjective. However some like RSI; so its showing SPY overbought 84% ,priced @ $65. area ; 1996.Then SPY upTrended to $150 area. NOT to worry its still an uptrending bull market.
    In the bears favor SPY is up 12.55% YTD, + thats a usual average for 52 weeks,LOL so could see a selloff; usually do@ end of quarter. BUT not every company is as badly run as TSLA, GE.......; they selling those hard, but maybe not oversold. :D :D LOL
     
    #13     Mar 15, 2019
    comagnum likes this.