What A Waste

The bulls have squandered this oversold reading thus far. The market has basically just chopped around since we became maximum oversold. The bulls still have some time left but eventually we will no longer be oversold. I am going to give the bulls a few more days. Have a great weekend.

1 comment:

Anonymous said...

Market driver is not giving support. FED is comfortable with this decline and making a point where commodities are pulling back as they predicted and letting it happen. Inflationistas are proven wrong for good as I have always stated global deflation is the real risk.... Relative strength trades are not working ( ie gold) slow erosion.The signal will be clear for turning the trend up.