Looking at my unch chart we see it getting more overbought. That can mean complacency or excess!Yes it is overbought a signal yet,NO! I have studied this chart back years and see the 83% line as a buy/sell line. If we are below that line and it cross's it is a buy. So we need to see the OB line come down to the 83% to get a sell. Thought's it could lead to one last overblown rally.
LIVE EOD
http://schrts.co/RvMK5v
Next chart is the $BPSPX and after a strong climb it has finally leveled off. Again not a bear till it starts down.
My thoughts is it is a lager not a leader but still has to follow the script . So looking for divergences as alway's. These are simple charts to (kiss) keep it simple stupid.
Live EOD
http://stockcharts.com/h-sc/ui?s=%24BPSPX&p=D&yr=0&mn=6&dy=2&id=p92911779640&a=446729007
Jerry O
ps Draghi wants to buy corp bonds, banks want him to buy non performers. I think he is killing his banks.
So far no overlaping of wave 1 so still bearish lean
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