Richard Gobel, owner and operator of Strategic Stock Trade, has more than 30 years of experience in the investment business.
Over the past few years, he has been using technical analysis and algorithms to develop day-to-day trading strategies to make financial decisions.
One of the keys to his success has been seeking out extreme conditions in the action of stocks. Using those extreme set-ups has guided him in initiating long and short positions based on trading algorithms to track extreme set-ups. When a stock is at its most extreme overbought condition, it will be flashing between 99-100 on his Extreme Set-Up scale. And when it is at its most oversold condition, the stock will be flashing between 1-0.
The stock market continues to go higher against the backdrop of accelerating inflation and growth slowing indicators. What will ultimately stop the advance?
This overheated, bubble like stock market continues to go higher on the heels of the Federal Reserve Chair, Janet Yellen, giving the green light to buy stocks.
This bull market is getting very close to the end. It cannot continue.
A relief rally in the indexes provided the bulls with some renewed vigor.
Could this be the start of something bigger or just short-term profit-taking by the bulls?
It could've been worse if not for technology.
The overall volume has completely dried up as it becomes clear the only players are the hedge funds.
Extremely overbought conditions make chasing this momentum a recipe for disaster.
All the major indexes are now in overbought territory. The target selloff is now next week.
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