http://investertech.com/tkchart/tkchart.asp?stkname=$SPX0X&wt=0&tp=0
The S&P500 is overbought! Even my 6 & 7 year old boys know this... Time start going from equity to cash - we need heavy, positive volume to stay at these levels. If we go any higher without nice volume, it is "Deja Vu, All Over Again" like I said on 06-14-09 - see post / link below:
http://dailyoptionsaction.blogspot.com/2009/06/all-major-indexes-continue-to-be.html
Just like I said on 07-08-09 that support on the S&P 500 was at 875. See post / link attached.
http://dailyoptionsaction.blogspot.com/2009/07/question-and-response-about-s-500.html
Now, we are at the top and really need good news and volume to stay here... Watch out!
Monday, July 20, 2009
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