NASDAQ 100 (NDX) - 3-day RSI above 95 for 6 consecutive days is Bullish
Probability Trader
www.probabilitytrader.com
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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Probability Trader
Quantitative Research Analyst
www.probabilitytrader.com
Probabilitytrader is an independent financial research group that provides objective analysis for traders of Global Stock Market Index CFDs, ETFs, Futures, and Options. Our forward looking analysis covers timeframes as short as 1-day to as long as...
Expertise
No areas of expertise
Probability Trader
Quantitative Research Analyst
www.probabilitytrader.com
Probabilitytrader is an independent financial research group that provides objective analysis for traders of Global Stock Market Index CFDs, ETFs, Futures, and Options. Our forward looking analysis covers timeframes as short as 1-day to as long as...
Expertise
No areas of expertise
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