S&P Futures Opens Down 20 Points!

Just for FYI, the last time the market was this overbought was in the last week of September in 2018 and was subsequently followed by a 19.95% drop over the coarse of almost 3 months. Why it is not that uncommon for individual stocks themselves to be moderately to stupid overbought, it is rare for the major indices to perform in such a manor. No ,I'm not saying the market will take a 20% dive, but that it was clearly overbought and some selling should come as no surprise.
 
Just for FYI, the last time the market was this overbought was in the last week of September in 2018 and was subsequently followed by a 19.95% drop over the coarse of almost 3 months. Why it is not that uncommon for individual stocks themselves to be moderately to stupid overbought, it is rare for the major indices to perform in such a manor. No ,I'm not saying the market will take a 20% dive, but that it was clearly overbought and some selling should come as no surprise.

Overbought by what measure?
 
Overbought by what measure?
If you search this forum, you will find that a lot of the permabulls asked the same question at the height of 2007. We all know what happened afterward. I've already gone through 3 recessions in my trading career, and every time I hear the same response. Of course, nobody knows for sure what will happen until it happens.
 
Back
Top