Hello MarketClub members everywhere, today I'm going to be looking at some key levels in the markets. If these levels are breached, it would indicate a further correction to the recent rallies. For the past 4 to 5 weeks the equity markets have been moving steadily higher and are now extremely overbought. That condition alone does not necessarily translate to the markets correcting, however, 85% of all stock market newsletters are bullish on equities. History has taught us that when there is a large consensus of people thinking the same way the reverse occurs as there is no one left to buy. The markets could well be at a consensus crossroads right now.
Here are some of the levels that I'm looking at to get an early indication that a correction could come into play. Continue reading "Is It Time For A Market Correction?"