Friday, January 7, 2011

Overbought continue

As noted overbought signals are all over and we are getting mild pullback. Now the question is how big and long will be the pullback. Recently most of the pullback have been shallow and without much force.

We will see soon enough.

Overbought????

Getting overbought signals around the market BUT last week before the new years I saw many stocks that looked like death patterns forming reversed and traded higher for the first couple of days in the new year. So what do you do here, when in doubt sit on hands-
Still believe we will go a bit higher but more than likely we need to work off these overbought signals to do so. Can we say possible sideway action