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 677.48

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Nov 5 4:00 PM EST

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To: Underexposed who wrote (90622)	3/15/2017 11:47:25 AM
From: GROUND ZERO™	1 Recommendation Recommended By John Pitera Read Replies (2) of 218453

Many thanks for your valuable input, it's much appreciated... it makes excellent sense... definitely, in the longer run, I also see no reason for a major market top right now, just that it is more overbought than usual... surely, a bull market can remain overbought for years and still move higher, but it strikes me that this market is currently a bit more over extended than usual since it's rare to reach beyond that particular Keltner 5 band... and when the market does stretch beyond that band, then there's always a counter trend reaction within another bar or so... this would suggest that we could see a market correction within another month or so that could easily take prices below current levels... certainly not a day trading kind of thing but well worth pointing out for some consideration... GZ

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