View: SPY Weekly 7-29.png
SPY Weekly 7-29.png
3 month SPY weekly shows market overbought on weekly basis for Fast Stochastic and Williams %R. OBV shows accumulation.
What is interesting is that all recent dips were clearly bought and the market has been pushing higher despite a clearly deteriorating fundamental picture. So no matter what policy action will be taken the market is clearly overbought on a weekly basis and some pressure to the downside would be needed to relieve this condition..
Comments
No comments yet.
...