The Power of the RSI

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 |  About: ProShares Ultra S&P 500 ETF (SSO)
by: Paul Singh

As long as the lows hold, the bottoming thesis is in effect. I have focused on more short term 3-6 month charts lately, but here is a two year chart showing the power of the oversold Relative Strength Index, even in a longer term down trending "topping" market.

click to enlarge