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Strategies & Market Trends : General market lab and commentary

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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From: Robohogs	2/26/2016 6:03:21 AM
	of 668

Oscillators are over bought across the board. It does not mean we fall apart after today - oscillator stayed overbought for most of October and November while mkt went from 1950 to 2100. Opposite occurrred in Jan. It does mean fast moves down are easier but during the last big rally, most mkt lost looks like 30 SPX points over 3 days. We now have higher highs and we are above the W top. Slopes of most MAs now flattening. Will be interesting as 200 still above. Bios still look horrible and with 2-3 30-50% breakdowns per day, of stocks down 30-50% already, I do not think they can recover. Product companie like AMAG, RTRX, HZNP and EGRX dramatically outperforming. How we behave over next 1-3 weeks tells the tale.

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