Hi Saleem, Thanks so much for giving us your insights I enjoy your blogs very much! My question is Does technical analysis eventually coincide with fundamental analysis? right now technically by any measure we are very overbought but fundamentally we seem to be improving ie. new highs, m&a very active,and i am observing very good retail activity in my area thanks again for your assessment
Hi Saleem, Thanks so much for giving us your insights I enjoy your blogs very much! My question is Does technical analysis eventually coincide with fundamental analysis? right now technically by any measure we are very overbought but fundamentally we seem to be improving ie. new highs, m&a very active,and i am observing very good retail activity in my area thanks again for your assessment
Technical indicators are to be taken in comparison to different environment...when panic rules TA does not help.....because all indicators are going down & down ...
IF you take RSI..you will see strong numbers as high as 80+..then you will see low numbers like 30 in weaker environment...currently we are in 63 area....so we are not technically overbought @ all....
YES...fundamentals of economy is also improving like jobless claims..which give support to technicals....
Wall Street is never the same ..that is a given...keep an eye on RSI & sentiment..which may tell you more than anything else.
3 comments:
Hi Saleem,
Thanks so much for giving us your insights I enjoy your blogs very much! My question is Does technical analysis eventually coincide with fundamental analysis? right now technically by any measure we are very overbought but fundamentally we seem to be improving ie. new highs, m&a very active,and i am observing very good retail activity in my area thanks again for your assessment
Hi Saleem,
Thanks so much for giving us your insights I enjoy your blogs very much! My question is Does technical analysis eventually coincide with fundamental analysis? right now technically by any measure we are very overbought but fundamentally we seem to be improving ie. new highs, m&a very active,and i am observing very good retail activity in my area thanks again for your assessment
Hi Charlie,
Thanks for your feedback.
Technical indicators are to be taken in comparison to different environment...when panic rules TA does not help.....because all indicators are going down & down ...
IF you take RSI..you will see strong numbers as high as 80+..then you will see low numbers like 30 in weaker environment...currently we are in 63 area....so we are not technically overbought @ all....
YES...fundamentals of economy is also improving like jobless claims..which give support to technicals....
Wall Street is never the same ..that is a given...keep an eye on RSI & sentiment..which may tell you more than anything else.
Saleem
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