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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免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。