Wednesday, May 6, 2009

Still overbought !!!

5/6/09

All major stock indexes are still propelling upward even in super overbought condition. However, it is getting closer to have a big correction/pullback. It should not be any buying here unless you are daytrading. Bank Stress testing result will be annoucned after tomorrow market close and there will be non-farm payroll number report on Friday. Would these two factors can give the excuse for sell off??!

No comments: