Major Indexes Short-term Overbought
Just a quick note this afternoon to mention that all of the major indexes are now hitting short-term overbought status. Of course, they could certainly continue higher, but odds are improving now for a possible reversal later this week. It’s also options expiration week, so we might see that reversal as late as Monday.
If you wanted to take a small position here, some long puts or short call spreads on any of the major indexes would be the way to do it.
More on this topic
(What's this?)
Bit of technical positive divergence may help equities indices bounce near-term
(UnBiasedTrading (TM), 2/6/10)
Bit of technical positive divergence may help equities indices bounce near-term
(CHARTLINES (tm), 2/6/10)


Wed, Feb 13, 2008 | Jared
Bonus Trades