Tag: XRT

Not Time To Accumulate Stocks Aggressively

while the overall technical backdrop remains positive, return of extreme overbought conditions on an intraday basis suggesting that this is not a time to accumulate stocks aggressively. As for strategy, traders should consider buying downside protection for winning positions

S&P to See Strong Resistance near 3050

S&P broke key resistance Monday, suggesting that the multi-month sideways trading pattern had resolved itself into a new upswing. However, given the overbought conditions and looming resistance near 3050 there is no big commitment to accumulate stocks aggressively at this point. As for strategy, traders should look to reduce exposure into overbought strength

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