US Stock Market: Be Prepared For A Pullback

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US Stock Market: Be Prepared For A Pullback

By David Spurr on January 7, 2009 | More Posts By David Spurr | Author's Website

The NYSE Bullish % is approaching 70%. When this indicator gets to the 70% level, the market conditions are beginning to become overbought. 70% reading requires caution and defense. With this large a % of stocks on PF buy signals, we must start to be prepared for a pullback or correction, or more likely a resumption of the downtrend.

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