Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 675.37

-1.2%

4:00 PM EST

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To: Trumptown who wrote (89808)	2/16/2017 5:51:51 AM
From: GROUND ZERO™	Read Replies (1) of 218380

Respectfully, I agree with your chart assessment and that a pull back is clearly due, long overdue, but considering the upward thrust, momentum, and speed of this market, I don't know if we would see anything more than a 10 to 12 SP point pull back before we see buying rushing back into this rally... realize in a bull market the RSI is most reliable and valid when measuring oversold conditions, and in a bear market for measuring overbought conditions... in other words, in a bull market, the commonly used primitive indicators can remain overbought for a very long time while the market continues higher... this is what fools the bears every time... if you want to measure market tops, then you will need to refine your instruments... Okay, famous last words, so today is probably the big top!!! LOL!!! GZ

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