- New highs...going up...overbought gets more overbought. Not much has changed...yet. Interesting was that the market didn't forge ahead smartly today on Goldman's blowout earnings numbers. Then again, after being up so many days in a row, it was an accomplishment to still close up on the day.
- We continue to struggle with a price gap area (SP500 1082-1108) from October 2008 and then we have the 50% retrace level at 1120. Possible that the gap finally stops this upmove just short of that 1120 level that many are looking at?
- This is that area first indicated in this chart here from 24 SEP. You can check the current daily charts in the side bar and see how close we are now. Basically we are less than 2.5% from that area which has multiple long term trendlines and a Fibonacci 50% retracement. In other words, I'm entering a zone in which to be alert.
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