MattD, how much are you losing with your shorts ?

wig · 09-03-2003

Monk, remember that article I told you about that I wrote for Futures magazine in 1995? It was about using RSI as a failure swing indicator instead of an overbought / oversold indicator.

Well, we just hit the failure swing level on a monthly basis in all indexes. This means that we are within a month of a top.

Caveat: we could see a downturn followed by another rally to a higher high with a diverging RSI. I actually have this as my primary expectation going into early 2004.

Regardless, a significant correction should take hold by mid month.

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09-03-2003	#20
wig Members Join Date: Oct 2002 Posts: 1,248	Monk, remember that article I told you about that I wrote for Futures magazine in 1995? It was about using RSI as a failure swing indicator instead of an overbought / oversold indicator. Well, we just hit the failure swing level on a monthly basis in all indexes. This means that we are within a month of a top. Caveat: we could see a downturn followed by another rally to a higher high with a diverging RSI. I actually have this as my primary expectation going into early 2004. Regardless, a significant correction should take hold by mid month.