OT: A lot of the SOX components are getting quite over bought today as is the market in general. The SOX has made it to an RSI of 70 in the rally that started last October and I suppose that is possible again if everything leading up to the outbreak of war goes perfectly as planned.
stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
But any little hiccups are more likely to result in a lot more downside than upside in my opinion from here. This rally has come too far too fast. The put to call ratio is too low:
cboe.com
The five day TRIN score is going to be too low soon:
finance.yahoo.com^STI.N&d=c&t=5d&l=on&z=b&q=l
Plus the VIX is actually moving higher!
stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
JMHO RtS |
