Going back over the last 18 months the only times that the RSI indicator (standard 14 day) has actually breached the accepted oversold lower threshold reading of 30 has been on August 30th in 2016 and now August 25th or last Friday. A bit puzzling to see some people still selling into an unusually extreme oversold condition.
Last year the SP bounced on August 31st, the day of the announcement so we have an interesting week ahead....
COB August 25th - Pardon the busy chart....
TA discussion, page-5604
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