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 693.77

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Jan 13 4:00 PM EST

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To: Hank Scorpio who wrote (119002)	1/16/2019 2:34:30 PM
From: GROUND ZERO™	1 Recommendation Recommended By Winfastorlose Read Replies (1) of 221714

Yes, most everything looks overbought right now and in a legitimate upside breakout a market looks even more overbought... BUT, we have to remember that in a bull market rally, a stock or ETF instrument can look overbought for a very long time while still moving significantly higher... The reason the overbought indicators aren't that reliable is because they really should not be used in an uptrend, they should only be used in a down trend... then, when something is overbought, you know for sure it's going down very soon thereafter... But in a bull rally, overbought doesn't mean that much... So, AMZN and others can look overbought all it wants, but that will only stop those from buying who don't fully understand those indicators, it will only fool those looking for a top when none is there... Those are the people who take short positions just when they should be buying... GZ

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