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US stock market · indicator signal

RSI oversold bounce on SPDR S&P 500 ETF

On SPDR S&P 500 ETF the rsi oversold bounce showed up 74 times. The target came first 36% of the time, the stop 58%, and 5% went nowhere within 12 candles.

Counted on SPDR S&P 500 ETF: daily candles from January 2015 and hourly candles from October 2024.

By timeframe

TimeframeFoundTarget firstStop firstWent nowhere
Daily2536%56%8%
Hourly4937%59%4%

SPDR S&P 500 ETF against the rest

ChartsFoundTarget firstStop firstWent nowhere
SPDR S&P 500 ETF7436%58%5%
All US stock market charts2,25841%55%4%
Every market32,72634%55%11%

Year by year

YearFoundTarget firstStop first
2016367%33%
2018729%71%
2020425%75%
2022333%33%
20252733%56%
20262540%60%

The last 8 times

Counted by the Trading Class research engine on real past candles: entry at the signal candle's close, target 1.5 × ATR(14), stop 1 × ATR(14), 12 candles to decide, a candle that touches both counts as the stop. How we count. Past data, not a forecast and not advice.

What the rsi oversold bounce is

RSI fell below 30, then climbed back above it. Selling may be tiring.

Stretch a rubber band far and it wants to snap back. RSI is a gauge from 0 to 100 that shows how hard price has been pushed up or down lately. Below 30 means price was pushed down very hard, and climbing back above 30 hints the selling may be tiring.

The full rsi oversold bounce lesson, video and quiz ›

Other patterns on SPDR S&P 500 ETF

Inside bar · Stochastic bearish cross · Gap up · Stochastic bullish cross · Gap down · Spinning top · MACD bearish cross · Doji · RSI overbought drop · Volume profile bounce · all of them

The rsi oversold bounce elsewhere

Dow Jones · S&P 500 · Nasdaq 100 · Alibaba · Tesla · Broadcom · Oracle · Nvidia · Microsoft · Meta · Sensex · Nifty 50 · Nikkei 225 · Sony · GBP/USD · EUR/JPY · Gold · Silver

Questions

How often does the rsi oversold bounce work on SPDR S&P 500 ETF?

In 74 cases on SPDR S&P 500 ETF, the target (1.5 × ATR) came before the stop (1 × ATR) 36% of the time and the stop came first 58%; 5% went nowhere within 12 candles.

What is the rsi oversold bounce?

RSI fell below 30, then climbed back above it. Selling may be tiring.