RSI Bearish Divergence on the Daily SPX Short

TVC:SPX1D

S&P 500 IndexTVC

Description

⋅ Nov 4, 2019 8:53 PM

If RSI breaks 70 in the coming days this idea is invalidated.

Look for the S&P to head down from here.

Comments

merkd1904

⋅ Nov 4, 2019 9:57 PM

Is the 70 RSI value just based on your trendline?

jwbatchelor89

⋅ Nov 5, 2019 1:17 PM

@merkd1904, yes, if the rsi rises above 70 it will invalidate this idea because it would invalidate the bearish divergence in RSI VS Price.

I've been a bear regarding the S&P for a while now (thinking that it's going to correct sharply any day now). However, if this idea is invalidated, I will buy a ton of calls cause this train isn't stoping