My main worry is the divergence between the BPCOMPQ and the COMPQ itself. Note that we are now pretty close to August highs on the Naz, but the last 180 Naz points run, have produced only a very small improvement in the BP. You can interpret this in two ways, the BP has a long way to go (and thus my sell signal will be negated), or fewer stocks are participating in this run than before, and thus this run may not sustain itself. I can't tell you which way this evolves, but due to the very overbought situation, I fear we have a turn down and the BPCOMPQ might make a new low in the next few weeks.
