Comments on: S&P 500 Very Long Term – No Trend, In A Wide Trading Range http://midasmarketanalysis.com/2010/02/08/sp-500-very-long-term-no-trend-in-a-wide-trading-range/ Tue, 04 Oct 2011 07:38:10 +0000 http://wordpress.org/?v=abc hourly 1 By: Dave Narby http://midasmarketanalysis.com/2010/02/08/sp-500-very-long-term-no-trend-in-a-wide-trading-range/comment-page-1/#comment-30 Dave Narby Sun, 14 Feb 2010 23:04:10 +0000 http://midasmarketanalysis.com/?p=2251#comment-30 The RSI does seem to be rising and falling in long wedges to me... But I see your point and you are likely right; as new lows aren't likely until next year. The RSI does seem to be rising and falling in long wedges to me… But I see your point and you are likely right; as new lows aren’t likely until next year.

]]> By: D Hawkins http://midasmarketanalysis.com/2010/02/08/sp-500-very-long-term-no-trend-in-a-wide-trading-range/comment-page-1/#comment-28 D Hawkins Sun, 14 Feb 2010 19:08:49 +0000 http://midasmarketanalysis.com/?p=2251#comment-28 Dave, regarding your trendlines on the RSI, I see what you mean. However, I think the usefulness of the long term one, from '84, expired when it captured the low last March, as that was in oversold territory. As for your shorter term blue line, it's something to watch, but these things don't have predictive value. The main lesson of the RSI in these recent times is that it has ceased to be in trend mode and is now oscillating. This leaves us, on this very long term timeframe, to wait until price breaks out of this trading range. Dave, regarding your trendlines on the RSI, I see what you mean. However, I think the usefulness of the long term one, from ‘84, expired when it captured the low last March, as that was in oversold territory. As for your shorter term blue line, it’s something to watch, but these things don’t have predictive value. The main lesson of the RSI in these recent times is that it has ceased to be in trend mode and is now oscillating. This leaves us, on this very long term timeframe, to wait until price breaks out of this trading range.

]]> By: Dave Narby http://midasmarketanalysis.com/2010/02/08/sp-500-very-long-term-no-trend-in-a-wide-trading-range/comment-page-1/#comment-25 Dave Narby Sun, 14 Feb 2010 15:42:48 +0000 http://midasmarketanalysis.com/?p=2251#comment-25 I noticed if you draw a t/l from the bottom RSI reading in 1984, you can extend it all the way to the present. http://screencast.com/t/ODVkM2EwN If the trends hold, this would seem to put the RSI at 25 sometime in late 2010. Not sure what this means for S1 or the price on the SPX, although I suspect we will hit ~900 on the SPX. I noticed if you draw a t/l from the bottom RSI reading in 1984, you can extend it all the way to the present.

http://screencast.com/t/ODVkM2EwN

If the trends hold, this would seem to put the RSI at 25 sometime in late 2010.

Not sure what this means for S1 or the price on the SPX, although I suspect we will hit ~900 on the SPX.

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