RSI too dropped WoW from 47.2 points to 39.68. We have seen RSI's below 20's as such this is not the lowest. 6100 points on the ASI is psychologically important but who will support it? Let's watch?
Sunday, March 5, 2017
ASI - Weakness indicates a down side......but massive turnover needs to be watched
ASI broke down, bringing dismal hopes to the remaining traders. But the turnover for the week was something to be watched. Turnover was 6.1 billion, highest recorded since February 2017. This included some strategic transfers, therefore not very bullish but comforting to those who did the deals. Another interesting development amidst all the pessimism was the Dec '16 overall Corporate Profit performance registering an increase of 14% over the '15 figures. This was commendable in an environment of rising interest rates. But the present and the forward quarters obviously would be challenging for the Corporates.
RSI too dropped WoW from 47.2 points to 39.68. We have seen RSI's below 20's as such this is not the lowest. 6100 points on the ASI is psychologically important but who will support it? Let's watch?
RSI too dropped WoW from 47.2 points to 39.68. We have seen RSI's below 20's as such this is not the lowest. 6100 points on the ASI is psychologically important but who will support it? Let's watch?
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