Stocks took a beating over the last few weeks, and some more than others. The Sector MarketCarpet below reflects the absolute value for RSI on February 3rd. Stocks with low RSI values have dark red squares, while stocks with relatively high values have green squares. Most of the green can be found in the utilities sector. The red is a bit scattered with some of the lowest levels found in the consumer discretionary sector. RSI is great indicators for finding oversold stocks and stocks that are bucking the trend. Click here to learn more about MarketCarpets.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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