Replies to post #470 on The Black Box

[wahz]

well, for the shorts sake, at least we didn't open up 300, yet.

[TREND1]

wahz
you wrote
ok, but by doing that, you have noticed that your rsi pattern is simply a near repeat of the chart itself, right? so why have an rsi at all? This is similar to trying to improve upon the Summation index..its a moving average as it is..there is no improving upon it, imho


comment:
(1)That is why I do not use moving "any thing"
(2)Because you can make the indicator say "any thing"
(3)Give up moving "any thing" and move on to probability
functions !!!!

[augieboo]

"you have noticed that your rsi pattern is simply
a near repeat of the chart itself, right?"
============================================================

Not really. A couple quick examples:

[1] Look at when the RSI-35 was last at the current level, i.e., around 30. At that time the indicator was below 25. Right now it's at about 35. I see this as support for your rally-sooner-rather-than-later theory, i.e., that the BP has become equally as oversold at a HIGHER level than before.

[2] Look at July & October on the RSI-35. POSITIVE DIVERGENCE -- followed by a significant rally.