FROM THE LINK:
Twenty-six-point-one percent in little over a month since long-term breadth gave a buy signal a bit over a month ago.
And now it’s up four days in a row on this swing leg of the rally, wildly overbought, with CNN MONEY’S Fear and Greed Index lodged solidly in the “extreme greed” level, and short-term breadth clicking down a bit today, all signs that the market and the stocks are both ripe for a dip if not a sell off but…but it has to turn down first and it has not done that. Amazing how many times traders can look at something going straight up (or straight down) and convince themselves this move is going to end – right now! Maybe, but until is does there is nothing to do but tighten stops but still give it enough room to keep going.
For More Discussion And A Chart:
