Monday, January 11, 2010

It's hard to find something insightful or witty when the market continues on its "overbought" status higher.

So - it is overbought - it's about time it came down - tell that to the market. :))

Well - one day very soon it will listen to us poor peasants.

The RSI is over 72 - the overbought level is seventy. The market won't be listening to us until it drops decisively below 70 - then we'll see a retracement. A correction? Unlikely - until we get into a seasonably favourable time for corrections. February at the earliest - probably April.

We shall see.

Cheers
Red

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