Oscillators don't work so well in strongly trending markets. Things like RSI are not a very good guide under present circumstances. No frickin' way am I shorting the equity markets until we actually get price action that's heading lower.
Re interest rates/the Fed - We're going to get NEGATIVE PPI and CPI numbers this week. Even if they're not as negative as expected, the psychological effect of negative PPI/CPI in this bull market is likely to strengthen bids.
How come the RSI seems to work when the markets are dropping like a rock and are completely OVERSOLD. No one will be able to time this market, once the drop starts, you will be late into the game.
I don't think it's true that RSI works better in strong downtrends than it does in strong uptrends. Sharp market breaks where the market goes down 5% - 10% or more are what, 3 - 4 sigma events? Why bet, in the middle of a bull trend, on something that unlikely? If the market starts to head lower I'll pick up some shorts but I want to see price action lower, not overbought indicators. I'd rather be late into the game than short while the market goes straight up.
Every day so easy. Buy 200 es when down 25 cents. Sell on close. Stop at Ferrari dealership on way home.
For sure the inflation numbers will be so market friendly everyone will start kissing each other, this is such a rosy economy, again just i time for the elections. To bad the polls dont favor the crooked Republicans. All this for nothing, I hope the Dem sweep both houses. Then the market will crash and I can find some decent buys.