SPY RSI Forecast: currently close to but not yet in the overbought territory.
byu/kmmeow1 inGenerationalRiches
Ran across this RSI Forecast Open-Source Script on TradingView today. Applied it towards SPY. Currently SPY’s 14 period RSI is close to but not yet in the overbought territory, and is staying above its Moving Average. This algorithm gave a buy signal on April 8th and there has been no new signal since. Based on least square linear regression, RSI is forecasted to peak around May 25th, and might cross its moving average on June 5th, which would generate a sell signal.