Signs of Fatigue
The market is still overbought, and since there have been no changes in the Oscillator, I won't harp on it anymore. There were, however some other statistics you should note from Monday's trading.
In the morning, when the S&P 500 climbed to make a higher high vs. last week, we also saw fewer stocks making new highs in comparison to last week's numbers. On the NYSE there were 163 new highs last week, and there were only 147 Monday. The Nasdaq saw 75 new highs last week and 59 Monday. That is not what you want to see when a market is overbought, as it displays fatigue....414 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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