Euphoric Overbought Market
Another record high for U.S.. major index today (yawn) after yesterday discord from Tech giants (most valuable companies listed in U.S.) versus SPX. Massive monthly gains for major index this November, SPX +2.81%; QQQ +1.97%; DIA +4.19%; IYT +5.60%; IWM +2.94%; XLF +3.46%; YTD~ SPX approximately +18%
- Index and ETF 2 months chart with RSI reading*
???????Tech Giants Chart* Distribution price action*
Financial and Transport Sector ~ the new kid on bull street*
VIX, UVXY, SVXY and XIV. ~ surprising 3 days solid green price action for VIX, the last 3 days rally for VIX was spring of this year.
*Market is in extreme overbought category, SPY needs a pullback of at least 2% to correct technical*
oh deary, did you hit Puts without texting me? :p Bold short post K!