S&P 500 2024 Versus 2023
This is an interesting year to say the least. Below is a chart of the S&P 500 via SPY. There has been only one oversold period this year when tracking the 6-Day RSI, our favorite overbought/oversold indicator. Now let’s compare to 2023. See below.
2023 was a much more normal year. There were six periods where the 6-Day RSI got oversold.