Not So Overbought Now

As 2013 ended, we noted the very overbought condition of the Arms Index and therefore the likelihood of a pullback. Now, just four sessions later, it looks as though at least a short-term pullback is under way. The first chart below is an Arms Candlevolume chart covering the last month. 

But note that something new has been added. The programmers at Stockcharts.com have now included, at my suggestion, different colors for the up and down candles. That doesn't increase the information, but it does make it more easily visible....253 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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