It is interesting to note that the SPY ETF is not the same as the average of the S&P500 companies.
Currently, the average RSI7 of the S&P500 companies is 62.12, while the RSI7 os the SPY is 70.11. While SPY is slightly overbought, the average S&P500 is not. So, beware of using SPY (or SPX) as oversold/overbought indicators.
RSI7 of ETFs I track:
Most overbought companies in the S&P500 August 24 EOD (top companies to short):
Tuesday, August 25, 2009
Posted by The Shocked Investor at 5:56 AM
- ► 2011 (510)
- ► 2010 (1051)
- Natural Gas Production Still Increasing
- US Open, a Money-Making Machine: $450M for New Yor...
- S&P500: The Top 20 Stocks to Sell
- Timothy Geithner Digged
- The Latest Top Bank Failures in The U.S.
- Natural Gas Report: Storage Overflow Likely in Oct...
- Iron Ore: Tata Steel Says Global Slowdown Continue...
- The GDP Q2 1% Drop: Fact, Fiction, or Spin?
- Quantitative Easing Coming Near You: the Devaluati...
- Berinyi vs Roubini: Damned if They Do, Damned if T...
- Gas.to Straddles for October and November
- Advisory Warning: Natural Gas to Fall Below $1
- Bernanke Says He Saved the World, But Millions Go ...
- S&P500 vs SPY: Beware, Two Different Measures
- The Fed Loses Case and Must Disclose Who It Loaned...
- S&P500 Report: 132 Overbought, Only 1 Oversold
- Quest Uranium, Ring of Fire
- The Illusion of Market Gains in the U.S.
- Natural Gas: UNG vs Gas.to
- Natural Gas Weekly Report Aug. 20: Situation Remai...
- SEC Warns Against Leveraged ETFs: Where Have They ...
- Index ETF, Oil, and Natural Gas Options and Stradd...
- Why Canadian Banks Did Better in the 2008 Financia...
- StraddlesCalc Tool is Online, UCO and UNG Straddle...
- Naural Gas: Gas.to October and December Options ar...
- Natural Gas on the Radar Screen
- Natural Gas and Hurricanes
- S&P500 Report: 59 Overbought, 15 Oversold
- Top 20 Stocks to Short in the S&P500 by RS7 and RS...
- Natural Gas Report: 10 Weeks to Overflow
- EWZ Vastly Outperforming SPX: +72% vs +10%
- Currencies: The Crash of the USD, USD Down 35% YTD...
- S&P500 P/E is Now 47.50
- S&P500 RSI Report: 192 Overbought Companies, Only ...
- ▼ August (34)
- ► 2008 (59)