Thanks Red. I guess using 9 is like two weeks data and 14...

Thanks Red. I guess using 9 is like two weeks data and 14 three.

So you are doing an RSI of the A/D daily. Cool. All Ords or XJO?

Do you have a mean reading for the last two years for that calc? If the mean is around 50 and it is reading 96 it could tell us a number of things:

1. Turn in the bear to a bull.
2. People having fear of "missing out".
3. Short covering (although if you are using All Ords data rather than XJO then short covering becomes less likely as it is difficult to short outside the XJO).
4. Given recent volumes and limited rise, distribution into the rise.

A number of people think that QE3 is on the way (eg. Hotfire). Others think we are topping (El Capo). Maybe so volitility on the way.