Overbought to the EXTREME- But Still LONG

The complete article from last night now open to public here:


Excerpts below:

So that’s the short term picture, in a word: overbought. BUT even the short term (daily) trend remain UP at this writing despite all of the above. We’ve seen the top coming since last Thursday night- but we have remained long where we continue to remain precisely because our Hourly Trend Trackers are STLL on buy mode. The line in the top section regarding the short term and the HTT’s reads:

Short Term: ~Hourly Trend Trackers~ BUY Mode Overall/ 3 PM 6/5/12 1284/0 of 8 on Sell

This tells us that the Hourly Trend Trackers went to Buy Mode overall at 3 PM on June 5, 2012 at 1284 on SPX and that they remain there. Further it tells us that NONE (0) of the eight hourly Trend Trackers are individually on sell. We will have an overall HTT sell signal ONLY when all eight go to sell. So for now we remain long.