Loading ...A friend wrote me this=How does the S&P 500 look overbought wise over the last 10+ years on monthly and quarterly charts? I suspect overbought all the time … why can’t that happen with miners? If it is a true bull market, that’s what I would expect!
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I have been posting lately that at some point the “overbought/oversold—too many bulls—Eek! A 70+ RSI” games get suspended…in most of the 1990s that venerable contrary theory service, Investors Intelligence, showed high bullish readings in its poll of letter writers…yet the stock market just kept going up…that said, contrary opinion/high RSI is to be respected…hopefully now. “les regles du jeu” will be on hold for a while…
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5:51am and all is well…gold is 1385.80 up $37…
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it hit 1397 last nite but then the A-team showed up and bopped it down th 1379…but I’ll take it and run…it’s good to see buyers coming in…better than being 20 or 30 buks off the high…