REASONS:
1. bond market has been rallying while equity rallying too (one or the other is usually lying and i tend to favor the veracity of the bond market)
2. McClellan at overbought levels
3. Put call ratio very very low
only one of my indicators not to fire on sell is my vix indicator but that has not fired sell since may...
needless to say my opinion is that we got a low volume holiday pump but come next week when more folks are back at work a bit of reality will set in...not sure of the catalyst but all signs point to a short to mid term overbought and complacent equity market
3 comments:
3 out of 4 "reasons" ain't bad. I heard before about that McClellan being fairly accurate as of late.
Whole slew of "catalysts" today...hehe.
McClellan is very good indicator...
http://i267.photobucket.com/albums/ii306/simjett/McClellanDude.jpg
Was a lot of farking work to get this here....hahahaha
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