The Buying Gets Overdone

Even bad economic news had little effect on Wednesday, as once again an early decline turned into a large advance. But later in the session we did see some hesitation, wherein the advance was largely erased. 

Looking at the first chart, we see that the buying seems to be way overdone, with the S&P 500 moving through the upper limits of the uptrend. Such steep and persistent rises eventually lead to a correction, but yesterday I heard, on the tube, the magic words, "It's different this time"  Watch out when you hear this. Markets are not all the same, but they tend to rhyme. ...290 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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