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Rivers, MB | What exactly does RSI (relative strength index) actually measure?
I heard a marketing analyst (Larry Weber) give 2 talks in the last 2 months and this technical indicator was one that he highlighted to keep watch. He indicated that it gave a good measure as to whether the market was overbought (over 70) or oversold (under 30). If you look at futures charts, there seems to be a fairly good correlation between what the RSI was indicating and what happened to the futures over the next while.
Anyone follow this closely or have any insight on it. Or is it a waste of time? At first glance, this seems like something that I would like to delve into a little further in my own studies.
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RSI - need some info
