Thursday, September 9, 2010

short term alert: move down for now

Stock market looks short term overbought since the beginning of the week. Unsure if this would result in a brief pause and then powering higher or a move down toward the 1050-1070 level for the SP500. Looks like it could be the latter... a move toward the 1050-1070 level as the +1100 level is proving to be a tough resistance.