RE: 7/31/17 Follow along as @alexmorris and I try to save J.C.Penney (JCP) from Jeff Bozo and Amazon

[joejustjoe]

Good observation of RSI readings on JCP. It did in fact just post a lower low on a higher RSI reading so one could "expect" a rally soon based solely on the RSI readings. That said, there are still lower lows below as targets, but because of this RSI signal I would refrain from shorting and look at teh next rally as a shorting opportunity. Let's see if it now rallies to generate a sell signal based on a higher high with a lower RSI print. RSI needs to trade to at least 80 of course. Nice work.

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=jcp&x=53&y=17&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11