Replies to post #454870 on Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

When the 5 days rsi (relative strength index))for the ndx drops under 30, there is a buy signal, yesterday it stood at 38, a good chance it will drop under 30.

[extelecom]

Here's more, explanation is down in the page...
http://vtoreport.com/rsi.htm

[Zeev Hed]

And as expected, VTO just issued a buy signal with the NDX 5 days RSI reaching 20....what is surprising is how little technical damage is inflicted on the market despite that reading. If it was not for the fact that the "general"'s BP (NDX, SPX, OEX and INDU), are all still under their 14 dma, I would have removed my bear suit today with that low rsi, but it seems that we may still have to suffer through February after a mild bounce from that VTO buy signal.