"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 23 hours Why Criminals' Cryptocurrency Choices Matter To Average Investors
  • 2 days OPEC ‘Supergroup’ Keeps Oil Exports Subdued
  • 2 days One Belt, One Road, One Direction for Precious Metals
  • 2 days Vicious Trio Keeps Bitcoin in Chokehold
  • 2 days How Infrastructure Is Driving A Commodity Boom
  • 2 days What’s Really Happening With Venezuela’s “El Petro?”
  • 2 days Gold Bull and Bear Markets
  • 3 days 5 Big Drivers of Higher Inflation Rates Ahead
  • 3 days U.S. And China To Face Off Over Aramco IPO
  • 3 days Gold Bulls, Brace Yourselves – Fed Hikes Are Coming!
  • 3 days Stocks Fail to Hold Gains, But Still No Correction
  • 3 days Cryptojacking: A New Threat Vector To Critical Infrastructure
  • 4 days Why The Next Oil Boom Will Be Fueled By Blockchain
  • 4 days 5 Things Investors Should Know About China this New Year
  • 4 days Is The South Korean Crypto-Drama Finally Over?
  • 4 days Miners’ Rally? What Rally? Watch Out for More Fake Moves!
  • 4 days Four Percent 10-year Note Yield Will Be a Floor Not a Ceiling
  • 4 days The End Is Near
  • 5 days 5 Record Breaking Gemstones Even Billionaires Can’t Buy
  • 5 days Irredeemable Currency De-tooths Savers
Decision Time

Decision Time

Last week, I mentioned that…

Very Bullish and Very Overbought?

Very bullish and very overbought is one way to describe the market based on this stock count on the S&P 500.

This chart is derived from doing a count every night on the number of Strong Stocks and Weak Stocks on the S&P 500. Since it is based only on Strength levels, it measures the S&P 500's unweighted stock action. (We post this chart every day on the Standard site (Section 4, Chart 1).

On Friday, the closing count was: 443 positive stocks, and only 57 negative stocks. Pretty bullish isn't it? At the same time, note the peak move on January 4th. when the count of positive Strength stocks went to a high of 454 out of 500 S&P stocks ... that was 90.8% of the S&P 500.

Such a high count is typically very bullish or in overbought territory, so be careful as risk levels are elevated at these kind of numbers.

S&P 500 - number of Strong Stocks and Weak Stocks


Back to homepage

Leave a comment

Leave a comment

Don't Miss A Single Story