Stocks Are Not Overbought Yet, Could Go Even Higher
At midday on Tuesday, U.S. markets have been in negative territory, but stocks appear to be paring their morning losses.
Stocks may be staying at near record levels, but Keith Bliss of Cuttone & Co.says they aren't overbought just yet. He said most traders feel that until the S&P 500 reaches 1990 it won't be overbought. Short traders expecting a correction continue to lose money. He believes stocks will continue to move higher as long as all the central banks stay coordinated. He thinks that unless there is a 'black swan' type of event, which can't be predicted, the markets will push through minor resistance, like what is happening today. There are minor pullbacks but no corrections in stocks.
