Using RSI To Identify Waning Momentum

So there are a couple of bearish patterns going on within the Nasdaq Advance Decline Volume chart. The head and shoulder top is the obvious one, but the one I want to draw your attention to is the stair stepping pattern of the RSI.
It goes from very overbought to the 50 level where it finds support. From there it attempts to get back over 70, but stalls and proceeds to roll over and visit the 40 level where it finds support. After a quick visit back to 50 it finds support and retests the 40 level. Now we are in a position where this could break down and really start to sell off. It doesn’t have to happen, but it’s in a position too…and that’s what is key here. It’s also interesting how all of this bearish RSI action corresponds with a negative MACD and a chart that is holding it’s head right above the neckline.