Condor Options

A couple people have written in predicting that markets will roar higher next week. Could be. But these 2-day RSI numbers suggest that uninterrupted exuberance might not necessarily be in the cards. Here are the major indexes:

• DJI – 90.27
• SPX – 95.16
• NDX – 96.80
• RUT – 96.19

And, for those who care, their corresponding ETFs:

• DIA – 91.64
• SPY – 97.75
• QQQQ – 96.42
• IWM – 99.76

As you may already know from our last portfolio review post, we have a couple open positions in IWM, so that 99 handle is a teensy bit reassuring, as these things don’t tend to stay overbought forever.

[tags]overbought, RSI, DIA, SPY, IWM, QQQQ, NDX, RUT, SPX, DJI[/tags]