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Feb 24 2017

Bull Market Continuation Signal?

  • Feb 24, 2017

The stock market looks overbought on virtually every technical measure we can think of, but an overbought condition doesn’t always mean the market is vulnerable. To the contrary, we’ve found that “initial” overbought readings—like the one triggered last week on the S&P 500’s 14-Week Relative Strength Index—are generally followed by above-average gains in the intermediate-term (Chart).

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About The Author

Doug Ramsey / Chief Investment Officer & Portfolio Manager