Eyeing a Potential Pullback As we head into the upcoming Overbought reading, let s take a look at some indicators that imply we should pull back in the coming week.
Mar 17, 2021 | 06:00 AM EDT
Nasdaq limped into the close, but it did manage to enjoy two days of green for the first time in March, and for only the second time in a month. It doesn t tell us much, except that the pattern changed. And that the either/or Market remains intact.
As we head into the upcoming Overbought reading, let s take a look at some other indicators that imply we should pull back in the coming week. We ll begin with breadth. It has been good for the rally, but it has not been as good as prior periods. By that I mean out of the seven-straight days with positive breadth, only three of them got to quadruple digits. But that s not a big deal, because breadth made a higher high.
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