Over the weekend I created an extensive study on the state of the stock market and how 'overbought' it currently is. The study is getting some attention among larger investors and 'market makers', and a few have asked to share the results with their 'people' which is exciting to see.
Overbought is exactly how it sounds ... a term that is used to indicate that a stock (or entire market) is 'over bought' and therefore apt to decline since in an overbought condition, there are fewer buyers than sellers. After a healthy rise in the market, at a certain point it becomes overbought and we usually experience a decline or sideways movement. Sometimes the decline is small, and other times it isn't.
In any case, I wanted to share the first two blogs that were 'published'. I'm told there should be two more newsletters sent out tonight and 3-4 more in the coming days.
This first blog is run by a very well respected investment advisor who was the past president and currently a member of the American Association of Professional Technical Analysts. His blog is following by literally thousands of influentials in the market. his work is very technically focused, so you might not understand much of it, but I am happy to decipher it for you if you wish.
Anyway ... Very boring I'm sure, but wanted to share it with you nonetheless. I hope I don't waste too much of your time