Markets Overbought SHORT Term Look no further than home Builders in the US...Sentiment moved up one Notch from extreme pssimism and the builder and Builder supply stocks are up 30-50% recently. Go Figure. People are afraid they are going to be mising out on something. Classic Bear trap.....A SHARP Technical rally and everythone is missing Something. Just Classic. ....
Anywho ! S&P is up over 4% YTD and 2.04% of that was tacked on Last week alone.....Getting Carried away Here wouldn't you say
DAX was up 4.25% Last Week Alone
CAC40 Was Up 3.91% Last Week Alone
Hang Sang Was up 4.72% Last Week Alone
Nikkei 225 up 3.13% Las Week alone
Late Friday....Europe Exchanges all Traded with losses...watch that Roll heavy into Next weeks session on Mondays Open....Markets were Too overbought this past week