Repeated Warning

We are seeing call buying at the ISE today despite the fact that the market is struggling. Add to that the fact that seasonality will turn negative tomorrow and that we are overbought. There is reason for caution heading into the back half of the week.


CP said...

Also, % of stocks above 50 DMA is >1 standard deviation above mean.

caveman said...

Not to mention every macro data coming out recently has been crappy - and we have service ISM tomorrow. I wouldn't hold my breath for that one.