The full post can be found here.
Pooised for a rebound
August 16, 2023 at 16:38 PM EDT
Mid-wek market update: The S&P 500 became extremely stretched in mid-June when its 14-week RSI exceeded the 90 level. The last two times this happened, the market eventually pulled back and the initial decline was arrested with RSI reached a neutral reading of 50. That 50 target was reached this week, which I interpret as the market is setting up for a relief rally.
The full post can be found here.
The full post can be found here.
