First The Bad News

The bad news is that the market is just about overbought. The good news is that nobody believes in this rally. The S&P 500 is up 70 points in the space of two weeks, yet the crowd is still skeptical of the rally. The best risk/reward trades occur when both the sentiment and overbought/oversold indicators line up. Right now we are getting conflicting signals. Have a good night.


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