Saturday, November 06, 2004

Presidential Rally

The market has rallied furiously in the last couple of weeks pushed up in the last few days by the Bush victory. The Dow has gone from oversold to overbought with an RSI of 69.6 and stochastics of 93.28. While some are looking for a breakout, this hasn't happened the last three times it rallied from a valley. I'm looking to take some profits on overweighted positions that have run up in the rally.

No comments: