Was going to post a pm I sent that predicted exact highs and lows of all index futs but though nah ... w(ho)tf would be stupid enough to believe that.
You come across as a forum cop - watching what everyone else posts and then trying to find a fault by that or come with some clever disagreement. Quite often you miss the mark as well. It's not a good look. Pekelo actually did say he thought the same pattern would repeat itself in RTH, so I don't see the problem here.
This is how you predict: It did. High was 3796, then it dropped to 3741, a 55 pts drop before the bounce.
Good call so far. Remains to be seen about 3950, though. In my view, 3800 should be a major resistance level if anyone is interested in selling this rally, so I would think some caution is warranted for the long side here as evidenced by this choppy action around here which is depleting retail trader's account one stop at a time.
First, I should say that I don't trade individual stocks. RSI indicators are my most valuable too, but not my only tool. The only charts I use regularly are trend channel charts. I almost exclusively trade index's and leveraged index's. I have 3 degree's of overbought. Overbought, moderately overbought, and just plain stupid overbought. Ditto for oversold. The Dow call I made was because treasuries are in stupid oversold conditions and the crowded dollar trade. Looking for that trade too correct. Ideally I look for moderately to stupid overbought or oversold conditions, playing the market ups and downs. It's a simplified trading method that works very well for me. I would say I'm more of a technical trader and seek those trades that have a high probability of success.
%% I did something like that today on SDS, SPXU\ cut a loss on that +did better on XLK,TQQQ/UPRO, but those were short term trades. SDS did perk up last half hour but i seldom day trade that period; even though i dont have a rule against it....................................................................