$S Daily RSI: 76.9, in overbought territory.
Where does this number come from?
When Wilder originally developed RSI, it was intended for the futures market. Today, it comes built into almost every charting tool.
During a one-way rally, RSI can stay above 70 for a long time. During a one-way decline, it can likewise remain below 30 for a long time. Overbought or oversold conditions don’t mean a reversal is imminent.
Indicators can fail, but risk management can’t take a back seat: deciding in advance what to do if you’re wrong is more important than trying to guess correctly.
#S
Where does this number come from?
When Wilder originally developed RSI, it was intended for the futures market. Today, it comes built into almost every charting tool.
During a one-way rally, RSI can stay above 70 for a long time. During a one-way decline, it can likewise remain below 30 for a long time. Overbought or oversold conditions don’t mean a reversal is imminent.
Indicators can fail, but risk management can’t take a back seat: deciding in advance what to do if you’re wrong is more important than trying to guess correctly.
#S