Don't Ignore This Chart!: RSI for SPY Becomes Oversold a Fourth Time

Don't Ignore This Chart!

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RSI for SPY Becomes Oversold a Fourth Time

August 03, 2011 at 11:02 AM | written by Arthur Hill

10-day RSI for SPY moved below 30 for the fourth time in 2011. I lowered the look-back period from 14 to 10 to increase sensitivity. RSI became oversold in March, June and now August. Oversold does not guarantee a bounce, but it does increase the odds of at least a dead-cat bounce.

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