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Over the last couple of weeks, we discussed the "wild swings" in the market in terms of price movements from overbought, to oversold, and now back again. The quote below is from two week's ago but is apropos again this week.
"Despite the underlying economic and fundamental data, the markets have surged back to extremely overbought, extended, and deviated levels.On virtually every measure, markets are suggesting the fuel for an additional leg higher in assets prices is extremely limited."
Just for visual sake, the chart below compares the last