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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (15007)11/6/2002 11:52:14 PM
From: Killswitch  Read Replies (1) of 19219
 
Rydex numbers now definitely showing a bearish divergence. SPX long assets are higher than they were at any point in the August rally, even though we didn't close today anywhere near the 950+ we achieved back then. NDX long assets also look overextended.

So I definitely agree with you a pullback is due. What I am not so sure about is that it will reverse back up to make new highs. We'll have to see how the sentiment changes on the pullback... if this over-bullishness continues then we may just keep heading down.
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