Posted by hornsant on 30th of Aug 2008 at 12:55 pm
That coincides with a 25% increase in the % of Stks above the 50
DMA wich would land in extreme overbought territory.
Nothing is "written in stone" and we could stay overbought for as
long as the MKt wants to. But it is a good idea to start
watching the candles at the close
wave 5
so is this a pullback to support or a negation ...
Posted by keani4me2000 on 29th of Aug 2008 at 09:36 pm
wave 5 ending around 1330
That coincides with a 25%
Posted by hornsant on 30th of Aug 2008 at 12:55 pm
That coincides with a 25% increase in the % of Stks above the 50 DMA wich would land in extreme overbought territory. Nothing is "written in stone" and we could stay overbought for as long as the MKt wants to. But it is a good idea to start watching the candles at the close
wave 5
Posted by keani4me2000 on 29th of Aug 2008 at 09:56 pm
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=1&dy=0&id=p61771738759&a=149336518