Although the market can continue to go higher, we’re closer to an overbought condition then an oversold condition so caution is the name of the game.
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S&P 500 Oscillator
Although we’re not overbought yet, we’re definitely not oversold. I don’t think you can buy here but I don’t see too much danger in holding. When you start to see the oscillator flatten out and roll over you probably want to start selling. If you have a large long only portfolio then you might want to consider putting on some hedges up here around S&P 950.
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