The S&P 500, as well as the NYSE Composite, Nasdaq and Russell 2000, are again at the overhead trendline resistance that halted their last three short-term rallies. They are overbought above their short-term 50-day moving averages to a degree that also suggests a short-term top is at hand. And investor sentiment as measured by the weekly poll of its members by the American Association of Individual Investors (AAII) jumped to 49.2% bullish and only 17.6% bearish this week, entering the warning zone of too much optimism, perhaps due for a pullback to reality.
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It's always a good idea to keep some good articles, at least I think they are good for reference, so I can go back and read them later.
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