Just a quick update to let everyone know that a channel has formed in the S&P500 since April 2017 with price only breaching the lower bound on the mid-May dump. Until 2400 S&P500 gets taken out (bottom of the channel AND 50-day moving average–which is rising), there really isn’t anything to even consider to the downside. Remember, a downtrend is DEFINED as a lower highs and lower lows. Hasn’t even thought about happening yet. Looks like clear skies to me until something changes.
Peter, the RSI (14) with 30 and 70 lines is there for you to use for your trading system. Hope it helps.