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Overbought Can Get More Overbought can it not? Sure it can. The 1476 level is my line in the sand. If we get above that level 1490 Tom Demark’s level will be one to watch.
Most of my scans produced overbought patterns so there isn’t a lot to see in the way of setups. XLF and XLE seem to have the most promise. I suppose if you’re looking to short, there are a lot of patterns setup on upper trend lines or topping resistance.
Here are a few stocks I am watching.