Tracking RSI for S&P500 Components Intraday
By
Rennie on Tuesday, October 25th, 2011 at 12:06 pm
Here’s an interesting indicator – tracking the spread between the number of S&P500 components with an overbought RSI minus the number of SPX components with an oversold RSI. This isn’t something new in itself, but the twist is that we’re tracking this spread intraday. Pull up this page and you’ll see this spread calculated for four different versions of RSI – 2-day, 5-day, 9-day and 14-day. Each spread is calculated by first assuming the current intraday price is today’s close, then calculating the RSI for each stock in the S&P500 and noting whether RSI is in overbought or oversold territory. For instance, we currently have 9 stocks in the SPX that will close with a 14-day RSI over 70 (if they closed right now) and 1 stock with a 14-day RSI under 30. The difference is 8, which is displayed in the spread chart. You can see from the chart that as of Noon ET, this spread reached as high as 12 and as low as 4 during Tuesday’s session. The page should update automatically every five minutes. Look for the permanent link to this page under the Intraday tab.
Tracking RSI for S&P500 Components Intraday
By Rennie on Tuesday, October 25th, 2011 at 12:06 pmHere’s an interesting indicator – tracking the spread between the number of S&P500 components with an overbought RSI minus the number of SPX components with an oversold RSI. This isn’t something new in itself, but the twist is that we’re tracking this spread intraday. Pull up this page and you’ll see this spread calculated for four different versions of RSI – 2-day, 5-day, 9-day and 14-day. Each spread is calculated by first assuming the current intraday price is today’s close, then calculating the RSI for each stock in the S&P500 and noting whether RSI is in overbought or oversold territory. For instance, we currently have 9 stocks in the SPX that will close with a 14-day RSI over 70 (if they closed right now) and 1 stock with a 14-day RSI under 30. The difference is 8, which is displayed in the spread chart. You can see from the chart that as of Noon ET, this spread reached as high as 12 and as low as 4 during Tuesday’s session. The page should update automatically every five minutes. Look for the permanent link to this page under the Intraday tab.