Fidelity’s timmer: lots of momentum behind this rally

Market Indicators
Written By Joe Sweeney

Comment: “One thing is clear: There is a lot of momentum behind this rally, as measured by the percentage of stocks with an RSI (relative strength indicator) above 70.”

Why it matters: Relative strength points to recent momentum trends, and the market’s momentum changed dramatically in June.

If this is a bull market, momentum would indicate there may be plenty of room to run.

Joe Sweeney

Joe is a failed baseball player turned market blogger

Previous

Capital Group: Equities have historically averaged 12.7% during rate hikes

Next

Goldman Sachs: < 20% of the S&P 500 impacted by New minimum tax