I'm feeling dramatic tonight... Double top and we are at weekly RSI resistance... target 337... that would take it just about to the top, right before the covid crash…
Little known fact - in the dot com bubble recession, 55 RSI was resistance for the entire recession on the weekly chart…. We are currently at 55 and that has been the resistance since last January ('22)
And in both recessions, the dot com and the 08, the bottom was in under 30 RSI on the monthly…. (Currently at 52) (Actually - correction... the recession/bear market was over when we crossed UP RSI 30 on the monthly timeframe)
Completely not a practical post going into tomorrow, but just some large scale observations….
I’ll zoom in a little closer for the next one, I promise…. 1 or 4 hour chart maybe… lol…
Have fun trading tomorrow, y’all….
Little known fact - in the dot com bubble recession, 55 RSI was resistance for the entire recession on the weekly chart…. We are currently at 55 and that has been the resistance since last January ('22)
And in both recessions, the dot com and the 08, the bottom was in under 30 RSI on the monthly…. (Currently at 52) (Actually - correction... the recession/bear market was over when we crossed UP RSI 30 on the monthly timeframe)
Completely not a practical post going into tomorrow, but just some large scale observations….
I’ll zoom in a little closer for the next one, I promise…. 1 or 4 hour chart maybe… lol…
Have fun trading tomorrow, y’all….
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이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.