I have been meaning to post this as more of a prediction for a couple of days here... But I procrastinated and now will just seem somewhat less smart. 
But the idea holds... RSI needing to cool off and then could begin some chop as the price continues to rise. No way (IMHO) this is not poised to run. But we HAVE to cool down a little first, and along the way, probably.
Also think if we heat up like I think we do we will be spending some time quite ABOVE the 70 RSI mark unlike that last climb...
But the idea holds... RSI needing to cool off and then could begin some chop as the price continues to rise. No way (IMHO) this is not poised to run. But we HAVE to cool down a little first, and along the way, probably.Also think if we heat up like I think we do we will be spending some time quite ABOVE the 70 RSI mark unlike that last climb...
OK. I am thinking we are doing a little RSI level reset here, and perhaps will even see us reach back up over 70 a bit before the next pullback. In a bull run it is common to see RSI remain near the top of it's range but takibng breathers along the way. I think we have a greater chance here of going UP rather than down, but may not be discounting enough because of the weekend.
