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While Welles Wilder, the creator of the RSI indicator, recommends using a 14-period RSI, innovative traders like Larry Connors and Connor Alvarez have developed profitable strategies using two and three period RSI indicators.
Deploying your towards it's highest and best use usually doesn't involve trying to spot turnarounds in terrible companies. It happens, but one should play the odds.
Quotes like these are boring, and seem obvious. However, most people know the importance of hard work, self awareness, and preparation, but how many carry out their everyday lives?
The market open is a great sentiment indicator as it's the first discovery of price of the day. The price direction on the open dictates whether there was buying or selling pressure forming off market hours.