Stocks have done very well this month, pushing the major equity indices into overbought territory. Several other metrics are extended but not extreme. This should give the bulls an opportunity to continue to ride the momentum, but can they pull … Continued
From its July 27 high through last Friday’s low, the S&P 500 quickly shed 5.9 percent. A relief rally looks imminent as equity bulls are not in a mood to let go breakout retest at 4320s. Not now anyway. Mid-to … Continued
The S&P 500 is attempting to break out of a rising channel at a time when metric after metric is yelling overbought. Concurrently, the potential for short squeeze is less and less. On the S&P 500, equity bulls notched up … Continued
The S&P 500 just broke out of trend-line resistance from late January, and apparently spent tons of energy in doing so. Near-term, the options market is reflecting elevated optimism. Unwinding is likely. US stocks enjoyed a nice rally in the … Continued
It is a top. But is this the top? All of a sudden, it is not a crazy question to ask. The ferocity by which U.S. equities have dropped in recent sessions, one has to wonder if this marks a … Continued