The RSI(2) Oversold Playﾃつseeks toﾃつidentify a stock that is below 2 on RSI(2), and will have pulled back to both moving average support and a major trendline/support level.
(MYGN: 24.98 -0.36%) has found support for the last 3 days right above theﾃつ200 day average. The 50 day average is rising and is only 2.5 points beneath [...]
Eight leveraged ETFs made the RSI(2) screen this evening. They are here, in order of largest to least volume.
QLD
SSO
DDM
UWM
MVV
URE
USD and ROM also made the screen, but I got tired of making charts.
I still have more testing to complete for this strategy, but the results so far have been robust. Therefore, I will likely buyﾃつ5K of [...]
The RSI(2) strategy has been working extremely well on (FXP: 8.17 +0.86%). The last entry signal was given Thursday for an entry on the open Friday. The latest exit signal was given today, for an exit tomorrow on the open.
The chart above shows the entries and exits with RSILE = Long entry and RSILX = [...]
I was able to get my trader (wife) to close out my (DDM: 47.11 +0.79%) trade about 20 minutes from the close today. It was profitable, +1.25% Upon examining the trade this evening, I realized I have closed the trade early. Let me explain.
I was able to check Stockcharts several times today, and at one [...]
Today, the QID RSI(2) was below 5. After the afternoon reversal in the Qs, the RSI(2) closed well above 10, likely near 30. However, the strategy still triggers a buy on the open of the (QID: 17.06 -0.70%).
I was also watching the double short S&P (SDS: 31.27 +0.16%) and I swear the RSI(2) was reading [...]
This is just a quick intra-day note telling you that (DDM: 47.11 +0.79%) has an RSI(2) of ~6 today. This will trigger a buy-on-open for Monday of DDM, the ultralong Dow 30 ETF. I will take this signal Monday morning. Best case scenario, the Dow gaps down Monday morning and you pick up DDM even [...]
Tomorrow I will be closing outﾃつ2 trades on the open. These trades were based on a RSI(2) strategy that I’m testing.
The above chart details the trade in (FXP: 8.17 +0.86%). I opened the position on April 24th, buying 50 shares at $62.56 The trade gets closed out tomorrow as today the RSI(2) traded above 80. [...]
