Sunday, March 06, 2016 11:00:46 AM
The Last Time The Market Was So Overbought, This Happened
March 3, 2016
The last 3 weeks have been a near unprecedented rip higher in stocks... as markets anticipated G-20 cooperative actions (and then BoJ and ECB follow-through) creating a vicious short-squeeze bounce...
This has sent The McClellan Oscillator to its most overbought since January 2009...
What happened then?
The Group of 20 leaders from major developed and emerging economies had pledged on their meeting on Saturday short-term measures such as fiscal stimulus in order to try to keep the global economy from falling into a deep slump and promised to look at ways to tighten regulations to prevent future crisis.
That did not end well!
March 3, 2016
The last 3 weeks have been a near unprecedented rip higher in stocks... as markets anticipated G-20 cooperative actions (and then BoJ and ECB follow-through) creating a vicious short-squeeze bounce...
This has sent The McClellan Oscillator to its most overbought since January 2009...
What happened then?
The Group of 20 leaders from major developed and emerging economies had pledged on their meeting on Saturday short-term measures such as fiscal stimulus in order to try to keep the global economy from falling into a deep slump and promised to look at ways to tighten regulations to prevent future crisis.
That did not end well!
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