Scanning through my charts this weekend, I noticed many displaying extreme conditions. So below are a few.
Above is the transportation index. The index is a leading indicator for the health of the economy by moving goods from point A to point B. The stocks in this index are extremely overbought and in new high territory.
The new highs - new lows index has been hanging at complacent levels for the past few weeks. Not an area to be loading new long positions. Compared to the panic low area above, buying was lower risk.
Just to show how strong of a market uptrend we are currently experiencing. AAPL (a stock that is represented in more funds than most any stock) lost -12% this week alone and the mark closed at new highs again this week. So any recovery by AAPL stock, would bode well for more new highs.
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