TRADING DP

[TREND1]

3/3/16 Conclusion: In the short term, it is frustrating to see all of the indications of a buying exhaustion and then watch price continue to rise. However, I do think the market has met its match in terms of overhead resistance. I annotated many touch points to overhead resistance lines on the RCD, XLB and the SPY. Combine that with extremely overbought indicators in the short and intermediate terms, and a bearish bias presents itself. As we saw last October, the opposite is certainly possible, but there seems to be more support for a decline than a breakout


http://stockcharts.com/members/articles/dpalert/2016/03/fierce-overhead-resistance-looming---oversold-indicators-get-more-oversold.html