larry, i remember your call from the last SMR - you said look for the market to pull back as it hits resistance & overbought levels (i paraphase).

well, it pulled back today. is this what you meant or will there be more downside to come?

-ja

Larry really nailed this one no matter what happens tomorrow or next week.

Last Friday RSI was overbought.

Today, Thursday, volume was heavy on the sell off, oil hit $60 and the RSI dropped to midrange (51.7).

It is hard not to notice the daily headlines and I recall CBS Marketwatch last Friday wrote of the market "poised to rise" this week.

Well they still have tomorrow.

Meanwhile, kudos to you, Larry!

This may teach us that we do not open BB trades when the market is in an overbought state. Any thoughts?
h

btw: we got a VTO buy signal - it's not too late to get in today!

-ja