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Harley,
be careful! I donīt believe in already *healthy* market. Look at ROCs of different time
interval. 5-day-ROC is at a very overbought level. Last occurence: 1991. During the last
10 years it hit only once higher values: 1987.
But the longer term ROCs even havenīt left their oversold areas. For me thatīs a typical
*panic buyout* (Donīt let the market go up again without me!).
Same indication I get from my Stochastic system.
My opinion: Maybe one or two days up (but slower than today), then the market should start
to reverse course and really build a bottom around the latest lows.
We will see!
Best wishes
Thomas
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