I normally wouldn't post this on SPX but I get the impression there are a few that would appreciate this info and I don't feel like I've contributed enough to this group. Going parabolic is nothing new, finding the top is. That overbought indicator has been accurate 8 months in a row on this stock, going in on FNGD is either going to prove to be a short small...
8 up days in a row, here's the info worth considering: www.businessinsider.com
RSI above 90
Divergence just reached overbought
Greed index just hit resistance at 75
If we do retest 3380's again we're in for a crash landing IMO.
Happy investing everyone.
I noticed that QQQ is a full 25% above it's MA and a full 5% above it's EMA. The RSI on QQQ is also above to take it's turn. These things combined in the past year almost always lead to a fall back to the EMA and being 25% above the 200 day is something that really peaks my interest as that's a multi-year record. I've been slowly getting my short positions...
Forgive my abilities as this is my first shared chart. I truly feel bad for anyone who may have been going long these last couple weeks and this bounce tomorrow may be a good idea to take profits and move to cash or go short and make some $ on the way down. 3039 or 3080 if it breaks through is likely as high as we will see in tomorrow's trading.