There were 312 new 52 week highs in the universe of stocks I follow. AAPL held on Wednesday. Now on to the FED.
Market getting overbought???
With the T2108 at 78% I am getting a little worried about a near term top. 50% of the Dow 30 stocks have an overbought stochastic. Similarly, so do the indexes, DIA and SPY, but not the QQQ. Techs are relatively weak. Are the techs signalling a coming decline in the other stocks? September and October are typically weak months for the market. I am very cautious for now. The GMI2 is now down to 4.