Wednesday, March 25, 2009

Unbelievably overbought

We have reached the fib retracement in the SPY at 82.7 and new lows are extremely low, forming consecutively high red bars in the histogram of my SPX divided by NYSE new lows indicator.

How much more pump is there before some decent retracement to the mid 75-76 range in the SPY? it's getting ridiculous here.

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