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Strategies & Market Trends : Longer-Term Market Trends
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From: ~digs5/18/2013 12:41:05 AM
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To put in perspective how overbought the market is in a longer term sense, the lack of any correction since November has pushed the S&P 500 way above its monthly bollinger band. This is a measurement popular in the land of technical analysis to mark overbought or oversold. Here is a 15 YEAR chart of the S&P 500 - even in 1999 and late 2006/mid 2007 the index hovered at or just above the upper bollinger band. You can see we are not hovering now - we have broken clear above. So on a long term perspective, the inability for any meaningful rest for this market has led to the most overbought conditions in at least a decade and a half by this measure. Rare air indeed.



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