Honestly, the daily RSI for $W has reached 87.8 (overbought).
When I first got into the market, whenever I saw an overbought reading, I couldn't resist trying to call the top. It took a few painful lessons for me to realize that in a strong market, an asset can stay overbought for a long time. Now I treat RSI as a heads-up, not a trigger.
How do you interpret this?
When I first got into the market, whenever I saw an overbought reading, I couldn't resist trying to call the top. It took a few painful lessons for me to realize that in a strong market, an asset can stay overbought for a long time. Now I treat RSI as a heads-up, not a trigger.
How do you interpret this?