The VXX is really oversold right now, maybe the most in months. So much so the cRSI is pegged to the floor. Everyone got excited last week and the SPX/NDX rally this week has them all selling hard. I am going with a some level of pop next week. Don't know how big, but I am getting the itch to buy.
ProfitHarvest
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@Dr_Roboto, Wow, so extreme! Thanks for the indicator btw...
Dr_Roboto
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@ProfitHarvest, hope it helps. I need to revisit a few things to make it work better. What I have noticed is that it will trigger a sell on the primary motive wave but often times a 2nd wave of buying can push the price higher but the RSI is falling and does not trigger a sell. Just remember that the buy/sell number is more a weight on the strength of the indicator (0-10, with 15 in extreme situations).
Bought some this morning right at open. First little gap up in a while seemed like a good bet. Was holding well, went to lunch and dropped almost to $9.80. I really thought $10 would hold after the hard sell after hours with a gap up this morning. Have to wait and see I guess. The hope that the end of January would start something bigger seems to have just given the bulls a buy the dip rally to keep things going.
ProfitHarvest
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@Dr_Roboto, Don't lose sight of the bigger picture, we're at the top of the Core Decay Fractal Channel and wedging hard in an uncertain market...
ProfitHarvest
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@ProfitHarvest, Oh damn... last one was just the gap fill, didn't notice that before!