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thisbemax

Normalized RSI on Leveraged Index Fund shows dip - Swing Trade

Long
ProShares UltraPro QQQ (NASDAQ:TQQQ)  
thisbemax  
NASDAQ:TQQQ   ProShares UltraPro QQQ
Trend Analysis Chart Patterns Technical Indicators swingtrading leveragedetfs leverage
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trendanalysis chartpattern indicator swingtrading leveragedetfs leverage
Nasdaq 100 is looking oversold after a bad week for tech. However, after a big selloff the RSI over multiple time frames shows oversold levels. On top of being below the standard 30 level, the RSI dips below the lower adjusted (50 period, 2.1 standard deviations) bollinger band for a more accurate reading of oversold. Over the past 6-months, the combination of the RSI dip below 30 and a dip below the lower band has been an excellent buy signal. Tech isn't going away anytime soon...
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