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Overbought Is A Relative Term
Saturday, May 11, 2013 20:24
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By Jeff Pierce
Since November lows the Nikkei has risen 6k points vs 2500 on the Dow. Yes I think the markets are overheated and due for a pullback, but it’s not a given so be careful to not let any trading bias dictate your plan.
My timing signal on US equities has been taken a hit over the last few weeks as it signaled a pullback was coming and yet the markets continued to rally. All I can really say is the markets are being different right now and I don’t know if it means different bad or different good. So I’ve been playing both sides of the market, but clearly the market wants to go higher.
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Source: http://www.zentrader.ca/blog/?p=19217
