Data as of June 21,2013 closing.
Attached above the Stocks/Indices that I follow which are below RSI 35.
We can see that not only stocks are below the RSI 30, some Major Indices are below RSI 30 as well. hey Most of them are really beaten up and oversold. MACD and Moving Averages are also low and Asia in particular had the 1st "Flash Crash" in 2013. Asia had this Flash Crash last 2012,but PH had this last 2011.
Many conglomerates are hovering around 20 RSI,and extremely low in its average, we still try to look for strong support before buying into these technically attractive stocks. Even HK, China and UK RSI got below RSI 30, which usually indicates a short term bounce is probable.
YET, we still need US to bottom out before anything else, for me always make US the primary direction of this market. If Asia corrected way in advance, dont let the ticker fail you, as from my experience, Asia and Europe also wait US to bottom out before they begin to rally.
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