NASDAQ: Perfect Bullish record looking out 4 weeks basedon RSI signal

Persistently OB RSI is bullish..
When the Nasdaq's RSI(2) has closed above 98 for 7 consecutive days, the Nasdaq has historically always finished higher 4 weeks later. There were 20 prior occurences, all of which closed higher 20 trading days later. In 18 of 20 cases (or 90%) of the time, the Nasdaq was trading higher 10 tradings later. And finally, even for the very short term, the odds are favorable: In 17 of 20 cases the market was trading higher with in the next 3 days.

Streaks..
Nasdaq has closed up for 10 consecutive days. Once more this persistant buying appears to present rather favorable odds for the intermediate term. In 25 of 30 prior instances, the Nasdaq was trading higher 20 days later. Similarly, in 23 of those 30 cases, the market was trading higher 10 days later.


Once more these studies suggest strength begets strength and that we should consider any retrace or dips as buying opportunities.