Zeev's Turnips Patch-No Politics (ZEEV)

[kevinb]

Zeev,

I know individual stocks indicators can remain overbought for quite some time but does that also apply to broad market indicators such as New Highs/Lows, Record High %, Stocks above 50/200 MAs etc in fact all the stuff on Vesselins board

http://www.investorshub.com/boards/board.asp?board_id=1316

All of these are in topping teritory and some have exceeded previous highs. Looking at the charts in the past these topping levels were fairly noiseless (i.e you did not get a whole load of days with readings up at these levels).

While I am not saying I expect the market to turn today, if we are not very close then everything I have been learning this past while seems a bit suspect.


Kevin