A Post for the Inquiring Mind(s)

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Early Friday morning I suggested a technique using TSI that frequently gives good buy and sell signals.  That technique is to draw trend lines on the TSI indicator itself (rather than on the stock price movement) and when a trend of some considerable length is broken, you have your Buy or Sell signal.
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In Friday's case, I was looking at a TSI trend line that extended from the first moment of the recent crushing correction (SP-500 1134) to the current moment.
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Though the SP-500 sold off in the final minutes of Friday's trade, the TSI trend line was indeed bullishly broken and remained so to the close of trade.  This gives us a BUY signal.
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Now the caveat here - in case this gives us a false signal - is that a SP-500 retest and take out of the 1010 low should be accompanied with a TSI reading HIGHER than the reading that occurred at 1010 (-57).  Our current reading is (-30).  To make it down to (-57) is quite a stretch.  The potential retest of the price low, accompanied with a TSI reading higher than (-57) would give us a second buy signal.
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Click on the chart to ENLARGE