I like to check in with potential longer term technical signals from time to time:
Here, the robot is comparing the strength of AAPL to the SPY with a mean reversion formula.
To be precise: the signal here is not simply a signal to go long AAPL - it is a signal to go long AAPL relative to the SPY. In other words, it is saying that AAPL has been relatively weak compared to the SPY and it suggests that going long AAPL and going short the SPY is a high-odds mean reversion trade.
So far, the RSI has refused to drop under 30. That's really a testament to AAPL's strength in these conditions. AAPL's RSI is currently below 30 when you use OHLC4 instead of close as the source input, though.
This signal suggests a reversion to the mean.
Here, the robot is comparing the strength of AAPL to the SPY with a mean reversion formula.
To be precise: the signal here is not simply a signal to go long AAPL - it is a signal to go long AAPL relative to the SPY. In other words, it is saying that AAPL has been relatively weak compared to the SPY and it suggests that going long AAPL and going short the SPY is a high-odds mean reversion trade.
So far, the RSI has refused to drop under 30. That's really a testament to AAPL's strength in these conditions. AAPL's RSI is currently below 30 when you use OHLC4 instead of close as the source input, though.
This signal suggests a reversion to the mean.