Is the market oversold or overbought? - StockFetcher.com Stock Screener

StockFetcher Forums · General Discussion · Is the market oversold or overbought?

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tmaugham 115 posts msg #48183 - Ignore tmaugham	11/27/2006 2:32:24 PM What are the best tools/indicators to determine if the market is oversold or overbought? Thanks, Tom
TheRumpledOne 6,529 posts msg #48188 - Ignore TheRumpledOne modified	11/27/2006 7:56:02 PM Fetcher[ /* overbought / and RSI(2) above 99 and weekly RSI(2) above 99 add column rsi(2) add column weekly rsi(2) draw rsi(2) draw weekly RSI(2) on plot rsi(2) ] Fetcher[ / oversold */ RSI(2) < 1 and weekly RSI(2) < 1 add column rsi(2) add column weekly rsi(2) draw rsi(2) draw weekly RSI(2) on plot rsi(2) ] Also look for divergence between price and rsi(2). Those filters are posted elsewhere. HTH.
tmaugham 115 posts msg #48205 - Ignore tmaugham	11/28/2006 9:30:59 AM TRO, Thanks, your filters are excellent as always and will be very usefull. My question though was really how to determine if the market as a whole is overbought or oversold. What indicators would one use to determine that? Thanks again... Tom
TheRumpledOne 6,529 posts msg #48209 - Ignore TheRumpledOne modified	11/28/2006 6:42:03 PM Fetcher[ set{xx,count(open equals ind(qqqq, open),1) * count(volume equals ind(qqqq, volume),1)} set{xy,count(open equals ind(dia, open),1) * count(volume equals ind(dia, volume),1)} set{xz,count(open equals ind(spy, open),1) * count(volume equals ind(spy, volume),1)} set{yy, xx + xy} set{yz, xz + yy} set{T10, count(10 day slope of the close above 0,1)} set{T60, count(60 day slope of the close above 0,1)} set{T200, count(200 day slope of the close above 0,1)} Set{u1, T200 * 1} Set{u2, T60 * 10} Set{u3, T10 * 100} Set{uu, u1 + u2} Set{TREND, uu + u3} yz equal 1 add column TREND add column rsi(2) add column weekly rsi(2) draw rsi(2) draw weekly rsi(2) on plot draw rsi(2) do not draw yz ] Is this what you had in mind?
papawally 19 posts msg #48211 - Ignore papawally	11/28/2006 8:40:37 PM Eloquently Put. Thanks
lockwhiz 206 posts msg #48214 - Ignore lockwhiz	11/28/2006 9:51:23 PM TRO ...Nicely done !
lockwhiz 206 posts msg #48216 - Ignore lockwhiz modified	11/28/2006 11:01:34 PM
tmaugham 115 posts msg #48224 - Ignore tmaugham	11/29/2006 8:58:59 AM TRO, Yes! Thank you very much.... Best wishes, Tom Maugham
glgene 618 posts msg #48225 - Ignore glgene	11/29/2006 9:11:32 AM TRO, How many "gold stars" have you racked up with your award-winning scripting? I wish I had just 2% of your scripting intellect. That said, what does a Trend of 11 mean? What are your thoughts on overbought/oversold extremes ... what would those numbers be?
tmaugham 115 posts msg #48282 - Ignore tmaugham	12/1/2006 11:12:08 AM pop pop pop

StockFetcher Forums · General Discussion · Is the market oversold or overbought?

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