On January 8th I posted a chart of the market and it showed the overbought levels of the S&P, when everyone was saying to buy this market. The levels were 940 area and three weeks later we are 120 points lower. I hope folks are using the information here to there advantage because it is very useful and profitable.
Take a look back on that chart and you will see it playing out perfectly, notice how we bounced off that mid teens area in the low 800's on friday. I might do a chart this week looking at the next few weeks.
Saturday, January 31, 2009
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