Tactical Strategies - S&P: historically inflated


Tactical Strategies - Continuation Chart in the Mini S&P: the focal point of this study is an historic overbought condition. The RSI is above 83, which is at an extremely inflated level.

  • Michael Ragazzo
  • Director - Institutional Sales • Professional Trading Group
  • [email protected]

Continuation Chart in the Mini S&P: the focal point of this study is an historic overbought condition. The RSI (lower pane) is above 83, which is at an extremely inflated level.

 This condition should not last much longer; presenting a form of a short-term selloff at the least in the coming sessions.

What are we saying? Essentially, that the market is at an historic overbought level, and that should not last much longer, providing a scaling form of selling. The prior scenario (purple line on left hand portion of chart; 9/2/2020) led to sideways/lower action and a 375 point decline.


Related tags: Securities

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