Magnificent Value Index with Opacity Candles
SPDR S&P 500 ETF TRUST BATS:SPY
This script idea is rather old but very enlightening about the current state of the market.
It looks at the RSI or MFI values of all Mag 7 stocks, averages them out and compares it to qqq's rsi or mfi as a differential.
Real shame tradingview doesn't allow free users to participate in publishing indicators and it's a real shame the war their employees support is being lost.
Make whatever conclusions you will from this.
Good luck, we're all living in a global idiocratic world now ruled by people infected with Affluenza.
source https://www.tradingview.com/chart/SPY/NoGIJ7MZ-Magnificent-Value-Index-with-Opacity-Candles/
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