August 17, 2017


Overbought with overhead resistance nearby has led to short-term declines consistently in 2008. Are we nearing that set-up again?

I only have time for the overbought/oversold numbers at the moment. As you can see below Energy (XLE), Materials (XLB), and the International Sectors have led the way lower.  However, everything is still in a neutral state so I will be patiently waiting on the sidelines for a move back into a short-term extreme.

Hopefully I will be back later tonight with some market thoughts.

Overbought/Oversold for March 19, 2008

Major Benchmarks

  • Dow (DIA)- 49.1 (neutral)
  • S&P (SPY) – 45.7 (neutral)
  • Russell 2000 (IWM) – 46.1 (neutral)
  • Nasdaq 100 (QQQQ) – 46.4 (neutral)
  • Emerging Markets (EEM) – 33.8 (neutral)

more overbought/oversold levels on additional sectors found in the Insider’s page (Buy the White Paper and receive Two Months of the Insiders Page Free) – less than $1 a day.

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