Most Overvalued S&P500, The Bigger the RSI, the Bigger the Drop

Following our post from yesterday with the most overbought companies in the S&P500 by RSI7, here are the daily changes today. These are the averages of companies grouped by yesterday's RSIs:

rsi>80 -2.89%
rsi>70 -3.08%
80>rsi>70 -3.15%
70>rsi>60 -2.18%
60>rsi>50 -1.56%
50>rsi>40 -1.62%
rsi<40 -1.96%

Overall S&P500 average was -2.44%.

Clearly, the stocks with the highest RSI7s were the best to short. Interestingly, companies with RSIs between 70 and 80 performed worse than those with RSIs above 80 (perhaps those were solid companies with valid high prices?)

You can view final numbers live here.