TRADING DP

[TREND1]

11/17/16

Ultra-Short-Term Indicators: The CVI and Participation Index -UP saw elevated though not climactic readings. Again, notice the declining trend of these indicators. It really looks like a short-term exhaustion setting up.

Conclusion: Short-term indicators are suggesting a buying exhaustion. However, given the bullish intermediate-term indicators, I wouldn't expect a throwback to be extraordinarily painful as they are suggesting higher prices over the next month. Tomorrow is options expiration so we will likely see an increase in volume with little price movement. I do want to add that short-term overbought conditions are not necessarily dangerous in a bull market because they can unwind with consolidation