The markets have gone from extremely oversold to overbought in just three sessions. Based on high readings in $NYADV, $NYAD, and the fact that today we saw a 95% up day, I expect a pause tomorrow.
A pause day can mean a gain or loss of somewhere around 30-50pts on the $INDU
I will be disappointed if we don’t get a pause day because in the recent past when the markets hit overbought levels and did not pause then they came back hard a couple of days later. In other words, the mad men at the helm just continue to push the market up so they can sell into the pump and then they run out of buyers and back we go again.
That’s all I have time for this evening.