Discussion in 'Trading' started by volente_00, Apr 16, 2019.
When did we start to care about that? Ah, right, never...
well. I don't really care.
I only care about the day range; the bigger the better.
Good question, and although you didn't ask me, here is my take:
We have a doubletop on the monthly chart with RSI divergence, also reaching the top of its BB. Now the Muller report being released today might just provide the catalyst for the turn.
Even on the daily chart for the last 2 months we have higher highs but the RSI isn't going higher, it is actually diverging slightly. At least a temporary pullback is in order.
Thank you for your comment. Should be interesting to see.
Now, for your last sentence - I agree, but this bull seems relentless and continues to surprise people. Also, there's a difference between a minor pullback and a 9 % (?) pullback.
When did the market start to care about that? Ah, right, never...
Post back when you have something to say relevant to what actually compels the market rather than your observations of various indicators, all of which are immaterial.
RSI = 100 – [100 / ( 1 + (Average of Upward Price Change / Average of Downward Price Change ) ) ]
The rally started like gang busters off a panic low. The very nature of the RSI formula is designed to issue lower values as trends normalize. I'm not sure much should be read into any oscillator at this point other than very short term and then only for judging bottoms of counter trend pullbacks rather than picking the top of a runaway bull swing.
He's good Gene
Umm ... I'm not Gene. Were you meaning to quote my post, B1?
Separate names with a comma.