Thursday, June 10, 2010

Way overbought

TRIN is 18... extremely overbought. nasdaq trin is more bullish but near neutral at 86. dow up 257 with half an hour to go. I think this was a short covering day. TZA system got out perfectly yesterday at 8.23. EURO is up 134 pips to 1.2114. I think 1.215 is the tgt for the bounce. when that turns back down, the stock market will follow suit.

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