Wednesday, February 24, 2010

Erratic couple of weeks behind us: Markets short-term overbought

It has been a couple of crazy weeks, but short-term the major indices are overbought.  I would expect the markets to trade sideways to down for the next several weeks.

Based on current patterns, it could bounce around 102 (based on DIA) and stronger support around 99 (based on DIA).

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