Short Term Trading Member Forum

[jwg]

QQQ daily chart RSI (5) :

Wed = 15.9 reading
Thu = 14.3
Fri = 10.0

Question : how low is low ? we'll find out soon...

RSI (5) could still go lower, and traders betting last week on
those low RSI numbers were betting on the wrong horse.
also another example that indicators showing oversold/overbought
are not very reliable, the market has staying power, but your
money does not....

conclusion :
even if it looks bullish/bearish...trade what you see, and not
what you think...

and here a word from Benjamin Graham / 1934 :

chart reading cannot possibly be a science. it has not proved
itself in the past to be a dependable method od making profits
in the stock market.

chart QQQ / RSI (5) :

http://stockcharts.com/def/servlet/SC.web?c=QQQ,uu[w,a]daclyiay[da][pd20,2!b50!f][vc60][iut!La14,34,...