"The Investor's Compass" - Powered by DynaLogic for 3/6/24
Broad markets were down significantly on the day with the Dow down -1.04%, S&P down -1.00%, and the Nasdaq down -1.79%. Treasury yields were slightly lower and gold was up .60%.
Zone Technology & Relative Strength Index (RSI)
The DynaLogic platform tracks the price of a security and issues an Add/Initiate (BUY) or Sell signal based on a predetermined change in price. The price of a security is placed in Zones 1-4. A Zone-1 indicates there has been a significant price decline in a security and there is potentially substantial upside opportunity. Zone 4 indicates there has been significant price appreciation in a security and there is potentially substantial downside risk.
RSI- The Relative Strength Index is a momentum oscillator that measures the speed and change of price movements on a scale of 0-100. RSI readings above 70 indicate a security is in an overbought position and readings below 30 indicate a security is in an oversold position.
It is important to understand that readings are "probability" indications and not absolute turning points, and risk management needs to be a part of the investment process. A Zone 4 "substantial downside risk" coupled with a RSI over 70 doesn't mean the security won't continue to trend higher. A Zone 1 "substantial upside opportunity" coupled with an RSI of 28 doesn't mean the security won't continue to trend lower.
Our Top Signals
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For a full list of the 260+ securities we are tracking, which include individual securities, cryptocurrency, Index and Sector ETFs and more, refer to our Security offering sheet.
For a full list of securities with the updated Zone strength and the current Relative Strength Index, click here.
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