NASDAQ 100 (NDX) - 3-day RSI above 95 for 6 consecutive days is Bullish
NASDAQ 100 (NDX) - 3-day RSI above 95 for 6 consecutive days is Bullish. We note that the NASDAQ 100′s 3-day RSI has closed above the 95 level for 6 consecutive days. Intuitively, we thought that this type of lofty & persistent overbought condition would indicate a pullback over the coming week. Our intuition was wrong. Since 1985, following a 3-day RSI reading of greater than 95 for 6 consecutive days, the NASDAQ 100 gained on average 1.80% over the next 5 trading days with a 7 from 7 win rate. Full data analysis & tables can be viewed at (VIEW LINK)
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