Thursday, March 18, 2010

A big reason we could see a correction soon

Percentage of Stocks Above 50-Day Moving Averages
Wednesday, March 17, 2010 at 10:55AM
The most recent push higher by the market has put the percentage of S&P 500 stocks above their 50-day moving averages at 85%. As shown below, at these levels, there really hasn't been much more room to run on the upside before a short-term pullback (or at least sideways trading) has been seen.

No comments: