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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 687.57+0.7%Dec 10 4:00 PM EST
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To: marginmike who wrote (82415)11/12/2001 3:03:36 AM
From: Psycho-Social   of 99985
 
Overbought Reading:
Trader bullishness, as measured by Jake Bernstein's DSI's, was every bit as high late last week, as around Labor Day 2000 and in May '01. My other indicators suggest the coming decline will probably be short-lived and moderate this time, but we're very overbought and the Thurs intraday high was probably a short term peak.
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