Tuesday, December 18, 2012

12/18 - S&P 500 update: Bollinger Bands indicate short-term high

The S&P 500 has breached the upper Bollinger Band on the daily chart, which has generally been very strong resistance over the most recent rally (see previous highs on the chart below). This indicates that the broad market is very overbought short-term and is unlikely to continue higher until some of the recent gains have been digested...

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