AI
Thursday, January 10, 2013 9:52:16 AM
SPY and QQQ 5-min charts with RSI-21, RSI-30 and RSI-50 which can be used together
to distinguish between:
1. a fakeout price advance to the upside
(RSI's actually NOT holding above the 70 level for several hours, but merely testing the +70 level briefly from below)
VS.
2. a Power move price advance (RSI's actually holding above the 70 level for several hours)
a Power move price decline (RSI's actually holding below the 30 level for several hours)
chart #1 - SPY 5-minute
chart #2 - QQQ 5-minute
to distinguish between:
1. a fakeout price advance to the upside
(RSI's actually NOT holding above the 70 level for several hours, but merely testing the +70 level briefly from below)
VS.
2. a Power move price advance (RSI's actually holding above the 70 level for several hours)
a Power move price decline (RSI's actually holding below the 30 level for several hours)
chart #1 - SPY 5-minute
chart #2 - QQQ 5-minute
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
