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Disclaimer and risk information

Last updated: 27.09.2026

This translation is provided for information only. The legally binding text is the German version.

Not investment advice. The content of this site is an automatically generated analysis of publicly available price data. It is general information, the same for every visitor, and not a recommendation to buy, hold or sell any particular security.

1. What this site is — and what it is not

RSL-List calculates rankings using Robert Levy's relative strength method and shows a few technical measures alongside them. This is a purely mathematical analysis of past prices and nothing more. It is published as general, impersonal information on a regular schedule, in the same form for everyone.

The following are expressly not offered:

  • personalized investment advice of any kind
  • recommendations to buy, sell or hold any particular security, or any offer or solicitation to do so
  • research reports, financial analysis or portfolio management
  • tax, legal or accounting advice

The analysis takes none of the things into account that advice depends on: not your financial situation, not your investment horizon, not your risk tolerance, not your knowledge and experience, and not your tax situation. It is identical for all visitors.

Neither RSL-List nor its operator is registered as an investment adviser with the U.S. Securities and Exchange Commission or any state securities regulator, or as a broker-dealer. The content is offered as a bona fide publication of general and regular circulation that does not give advice tailored to any individual — the kind of publication the publisher's exclusion of the U.S. Investment Advisers Act of 1940 describes. Using this site, registering an account, receiving its emails or contacting us does not create an advisory, fiduciary or client relationship of any kind.

2. About the data

The price and company data come from third-party, freely accessible sources. No guarantee is given that they are accurate, complete or up to date. This is not a precautionary phrase but observed practice: in the past, this project has already seen missing index constituents, changed table columns at the source and incorrectly assigned ticker symbols.

Please also note:

  • The prices are closing prices of the previous trading day, not real-time quotes.
  • The calculation runs once a day. Price movements in between are not included.
  • If a stock's price history is too short for a measure, a dash is shown. A dash means “unknown”, not “unremarkable”.
  • Corporate actions, dividends, stock splits and currency effects are not separately adjusted for in the values shown.

3. About the signals and measures

Labels such as “bullish”, “bearish” or arrows pointing up and down are mathematical descriptions of a state, not calls to action. They summarize how past prices have behaved relative to one another.

The thresholds at which a state is labeled one way or another were chosen by the operator. Other thresholds would classify the same price histories differently. Where a measure is based on a definition of its own rather than an industry standard, this is disclosed in the project documentation.

4. Risk information

  • Past performance is not a reliable indicator of future results. That a security was stronger than others over the last 26 weeks says nothing about how it will perform over the next 26 weeks.
  • Investing in securities involves the risk of losing your entire investment.
  • Prices fluctuate. Securities in a foreign currency add currency risk.
  • A strategy based on relative strength naturally leads to more frequent trading. Transaction costs and taxes reduce the result and are not taken into account anywhere on this site.
  • Figures from academic studies cited on this site describe portfolios studied by their authors over past periods. They are not the results of actual trading by anyone, and not results of this list.

Do not make investment decisions based on this site alone. Consult other sources and, if in doubt, seek advice from a qualified professional who is licensed or registered where you live.

5. Liability

This site and all of its content are provided “as is” and “as available”, without warranties of any kind, express or implied, including any warranties of accuracy, completeness, merchantability or fitness for a particular purpose. To the fullest extent permitted by applicable law, no liability is accepted for any loss arising from the use of, or the failure to use, the information provided here — in particular for financial loss resulting from investment decisions. The liability provisions in § 9 of the terms of use apply accordingly; the cases of unlimited liability set out there remain unaffected.

6. Own interests

The operator may personally hold securities that appear on this site. Since no recommendations are made, this does not create a conflict of interest of the kind addressed by the rules on investment recommendations. The operator receives no payment for showing or featuring any particular security, and no such featuring takes place.

7. Visitors outside Germany

This site is operated from Germany. It is not directed at any person in any jurisdiction where its publication or use would be unlawful. Nothing on this site is an offer or solicitation to buy or sell securities in any jurisdiction. You are responsible for complying with the laws that apply to you.