The work I do with unweighted composites suggests that the
broad market is a little extended short term but not overbought.
The SP500 needs to end next week ahead of today's 1451 close to
hold a decent trend.
My intermediate term (13 week indicators) now clearly suggest the
rally underway since 6/06 has entered a topping phase. This need
not be cause for immediate concern, since, by these measures, a
topping phase can take up to 6-8 weeks to complete.
I have ended full text posting. Instead, I post investment and related notes in brief, cryptic form. The notes are not intended as advice, but are just notes to myself.
About Me
- Peter Richardson
- Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!
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