Tuesday, December 29, 2009

US mkt: start of new rally?

Last week, all 3 indexes broke out of a 6 week trading range. The only problem is that vol was low due to the Christmas hols, so hard to confirm if this is real. I also don't have market breadth figures.
All 3 indexes currently up 6 consecutive days....is the market overbought? If we are in a bull, I only expect short 1-2 day pullbacks, similar to the Mar rally.

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