Persistent overbought might indicate ......
I expected the market to sell off after the trade deal. Like a sell on he news event. That did not happen so I see two scenariosa)Melt up and a big correction like Feb 2018
b)Normal correction in January and continuation of the bull market
Many markets have rallied sharply in the last few months and shortterm
momentum for several markets has reached an over-bought
condition. While sudden-and sharp rallies, which have been the case
since October in many markets, often tend to quickly become overbought,
this can also signal strong and sustained upward
momentum.
Kyril Sokoloff
From Chris Ciovacco Capital
Share story
0 comentários: