The Trickiest Thing

The trickiest thing the market could do this week is go sideways. Than the bulls could argue we have worked off some of the excess by going sideways. We worked off the last overbought reading by going sideways as well. While the bulls would have a point the reason it would be difficult for me to accept this time is that we will now be intermediate term overbought and there is more excess bullishness than the last time.

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