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« SPX 60 Min den of bearish divergences | Main | Oil »
Thursday
Mar112010

Jump on this train!

DateThursday, March 11, 2010 at 7:16AM

CPC has moved into Very Bullish terriotory which means the market is heavily skewed to the bullish side.  What happens when the everyone and their mother is bullish.  The market goes the other way!

 This uber-bullishness is show in the NYTV total ratio chart I've been showing you.  Now 75% of the market is moving up.  That means 3/4 of the market volume is up, this can't continue forever that is fo' sho.

 Check out Serge over at ETF Corner's look at the Bull Train

 The market is way overbought and bullish, I am still saying that we are seeing a top being put in and that we should move down from these levels.

 

AuthorPikertrader | CommentPost a Comment | | |
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