Now a RSI 12 sell signal

There were so many bears posting last night, I didn't want to post this one and jinx it all.
But we had an extremely high closing $TICK as well as 2 days in a row of sentiment jumps.
This also happened at the first of the year.
Caveat Emperor
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=3&dy=0&i=p48845342763&a=95529637&r=7659.png

Also today, we got a sell signal on another RSI system.
Yesterday I posted the RSI 2 sell: LINK
This one is the RSI 12: See Green words in chart below
Sell Signal #2 "When CCI turns down and STO is above 80."

PS: IS THIS A FRACTAL?
The Dec. 1st sell off was a 50% retrace from the Nov. low to the Nov. 30 top.
A 50% retrace now would equal about 841.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=9&dy=0&i=p55345993257&a=94546561&r=6650.png

Edited by Rogerdodger, 29 January 2009 - 12:22 PM.

Now for my BS:

There are a few things which make me wonder if this may turn out more like December 1st than Jan. 1st.
For one thing the VIX looks more like Dec. 1st.
It couldn't make it to the bottom BB but when it rallied, it couldn't get any higher than the BB median.
Keep your eye on it and I'll try to keep my eye open.
http://stockcharts.com/c-sc/sc?s=$VIX&p=D&yr=0&mn=6&dy=0&i=p78628010594&a=27927380&r=7935.png

Also I see Mr Dev. is looking to buy again for a "multiday rally".
If tonight shows a big bearish sentiment jump, the 6 days of strength may have a little more fire power.
(See the Dec 2nd sentiment jump noted in first chart above.)
But it's all BS.

And why is this called a BS smiley? Is it the hat?

Edited by Rogerdodger, 29 January 2009 - 12:00 PM.

Thanks Roger. Nice indicators, and right on the money- literally. Thanks for the postings. D

I have a fractal that says by end of next week we could see SPX 730. That's a big drop for 5-6 trading days, but even if it gets there, it won't be in a straight line. The fractal predicts a 500-700 point dow down day in a few days. This is all supposing the fractal comes true. So far its been a good match and I would expect sentiment to go off the charts as well.

Feeling brain dead. Roger, I understand your notes on STO and CCI for your RSI 12. But where does the RSI 12 come into play? Is it only don't buy above 70 or sell short under 30? Thanks.

Feeling brain dead.

Roger, I understand your notes on STO and CCI for your RSI 12. But where does the RSI 12 come into play? Is it only don't buy above 70 or sell short under 30?

Thanks.

Hi Esther.
YES!
It simply uses the rsi 12 to avoid buying when the market (RSI) is overbought >70 and prevents selling when it is oversold <30.

PS: I didn't invent it. I just stole it.

Edited by Rogerdodger, 29 January 2009 - 09:05 PM.