My favorite short term over bought/over sold indicator is the 2 period RSI. There have been papers, blog posts, books, etc. on the effectiveness of this indicator. If you're not familiar with it, I would encourage you to google it and read up on the 2 period RSI. Larry Connors has some great research on it.
As you can see from the chart below, the SPY etf is very oversold. I'll be buying a little today and a little more tomorrow if we close down again.
Happy trading.
TLT
As you can see from the chart below, the SPY etf is very oversold. I'll be buying a little today and a little more tomorrow if we close down again.
Happy trading.
TLT
