On Investors.com IBDLive, Chris Gessel often uses @thinkorswim to highlight technical action. Chris has been using a regression line that is discussed by Mike Webster on his Weekly Stock Market Update.
I’ve created a similar configuration that I thought others might find helpful. The image below shows the configuration that I describe in the steps that follow. Notice how the highs and lows of the Nasdaq Composite have held within the half standard deviations.
Mike Webster is the creator of Webby’s RSI (really simple indicator), a gauge on the health of an uptrend. Mike previously discussed the RSI in IBD’s Weekend Stock Market Update. You can read more about the RSI here.
Mike wrote the indictor in EasyLanguage for the TradeStation platform. Here’s how Webby’s RSI (bottom third of the chart) looks in TradeStation:
Are you struggling to build your watchlist? No worries, Help Is On The Way 😂
I built a @MarketSmith Webby’s Help Screen ☮️
@IBDinvestors #DaysBetween @jerrygarcia
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