The Fred Report - Mid Week Update October 30, 2013
Several advisors have asked if this is the most overbought market we have seen – it is not. Closing the month here, and then an up or mostly flat November, would be needed to put price oscillators where they were in 2007, 1997 – 1998 and other super overbought periods. Our buy signal ends in October, and unless TLT can make it above 110 by Thursday’s close the odds of a bear market in bonds go up, and traders should either close out positions or substantially tighten stops.
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