SKF: Across The Board RSI Signals

In the comment section, Mark said...

"on your SKF chart you refer to ATB with a skull. Could you explain what that means?"

Those were such nice signals, I decided to post the RSI charts. ATB = Across The Board, relating to my "homemade indicator," which looks at sequential Fibonacci measurements of Relative Strength: 8, 13, 21, 34, 55, 89, 144 and 233.

First, look at the two "ATBs" on this daily chart and the candles that are circled in green and in red. Those candles were the days when the signals were given. The day prior to each signal, the RSIs came into what I call "synchronicity," i.e. readings that are very close together after a thrust higher in the RSIs (bullish) or a failed rally in the RSIs (bearish).

A bullish signal is given when the RSIs bounce higher out of synchronicity. The reverse for a bearish signal. Confirmation of the signal is when price takes out the high (or low, if it's a bearish signal) of the "synchronicty" day (the day before the circled candles).

The more RSIs that give a signal, the better. These two signals were ACROSS THE BOARD signals.

Here's the 8...13...21 RSI chart, the "fastest" signal. I only marked the two signals under discussion. There were others.

The 21...34...55 RSI chart not only produced a Buy Signal, it also had a Bullish Inverse H&S pattern. When the SKF came back below its pattern breakout on November 13, notice that these RSIs held at synchronicity at the neckline of the Bullish Inverse H&S for a successful retest of that pattern breakout. Nice.

Finally, the 55...89...144...233 RSIs also gave the same signals, for an ACROSS THE BOARD Buy Signal in mid-November, and Sell Signal in early December.

We never want to go "all in" on any play in the stock market. That should be reserved for the poker table. But, if I ever see this Across The Board signal again, especially if it's got a nice pattern preceding it, like the Bullish Inverse H&S in the first signal, I'm going ALL IN, buddy!

Just kidding. Ju-u-u-ust kidding ;)