Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
It would be an understatement to say quite a few things are very overextended – entire sector ETFs have printed their entire day’s range over their upper bollinger bands. We’re not even talking about within sniffing range of a 10 or 5 day moving average. Overall action continues to be constructive here but it has become frothy in the very near term. So as next week approaches the question is, will this condition be worked off via price (down) or time (sideways)?
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