CHART OF THE DAY: #Oversold Signals
After the 6th down day (for the SP500) in the last 7, my risk management #process is registering some immediate-term TRADE #oversold signals. That’s why I have more LONGS than SHORTS in Real-Time Alerts this morning.
What’s an #oversold signal? That’s simply defined as when a market price sells off to the low-end of my @Hedgeye Risk Range. Conversely, an immediate-term #overbought signal is when the price taps the top-end of my range.
Brian Sly and Company, Inc.