The Nasdaq Advance Minus Decline 10 day moving average has moved back to the level that put a short term top on the market. Price could easily continue higher for a couple days, but it will not take much to move the market to significantly overbought.
The NYSE Advance Minus Decline 10 day moving average is very overbought. The 20 day moving average has some room to move up before the market will require a rest.
Charts courtesy of Stockcharts.com
Related Posts
Tags: Advance-Decline1 Comment
This sure is a show of strength. Unlike the previous peak at end of August that did not match price peak. I like to see how da bears will hold through this as many posters on other boards been shorting for last 3 weeks. My only issues are still SMH not looking strong, and VIX no new closing low since July.