Another factor working against the market is that we are now overbought as seen in the chart below.

Originally I thought we were going to get oversold into options expiration but the market re-rallied. For 8 out of the next 10 days we will be dropping positive numbers from the 10 day moving average of the NYSE advance-decline line. That means that we would not be maximum oversold until Christmas. Here is a look at the raw data.

1 comment:
That would also go hand in hand with buying on a lunar cycle of a full moon. Short new moon and buy full moon.
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