• 309 days Will The ECB Continue To Hike Rates?
  • 309 days Forbes: Aramco Remains Largest Company In The Middle East
  • 311 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 711 days Could Crypto Overtake Traditional Investment?
  • 715 days Americans Still Quitting Jobs At Record Pace
  • 717 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 720 days Is The Dollar Too Strong?
  • 721 days Big Tech Disappoints Investors on Earnings Calls
  • 722 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 723 days China Is Quietly Trying To Distance Itself From Russia
  • 724 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 728 days Crypto Investors Won Big In 2021
  • 728 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 729 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 731 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 731 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 735 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 735 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 736 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 738 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

An Overbought Market on May 12th ??

C-RSI "overbought" condition ...

We have been showing this chart to our paid subscribers for days, and now we will share it with you.

This chart shows our C-RSI levels (zero based Relative Strength) going back to July 2007 for the NYA and the SPY.

Note the C-RSI resistance level that goes all the way back to July 2007.

On Friday May 8th. (2009), the C-RSI on the NYA Index and the SPY hit the same July 2007 resistance level.

This was an overbought condition that substantially raised the risk levels in the market. (Yesterday, the C-RSI was below a shorter term resistance line on the NYA and below the support on the SPY ... risk levels are still rising.)


On May 12th. our C-RSI started dropping. What has happened since then?

The S&P 500 closed at 908.35 on May 12th, and it closed at 888.33 yesterday ... 2.2% lower. Yesterday, the Institutional "core holdings" Index closed 1.97% lower than it was on May 12th.

 

Back to homepage

Leave a comment

Leave a comment