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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (4902)10/13/2000 4:47:39 AM
From: J.T.   of 19219
 
Historically Low Relative Strength Readings dictate a hard bounce is imminent. But when will it stick? Not only is the 5 day RSI levels below triple oversold levels across the board, but you rarely get readings below oversold 30 levels on the extended 21 day rsi test. I now count 5 indices that are below 30 on a 21 day rsi.

Index  5 Day RSI   21 Day RSI

DOW    8.37        29.09
SPX    7.21        26.61
OEX    8.16        25.69
NDX    12.05       31.80
COMP   9.02        28.63
SOX    13.62       30.05
IIX    13.97       32.38
DOT    12.85       27.75
BKX    9.75        33.16
XBD    13.41       36.43
UTIL   47.41       54.92
TRAN   18.06       30.73
XAU    51.81       43.03
XOI    80.01       60.24
MSH    14.09       31.53
PSE    10.66       30.14


Best Regards, J.T.
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