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Thursday, June 17, 2010
Intermediate Indicators go flat; LT bullish
Our intermediate oversold/overbought indicators are now flat to slightly bearish. However, our long-term systems remain bullish. The LT systems, in particular, "liked" the bounce off of recent support / market lows to current readings of 1110 on the S&P.
Perhaps we'll now continue to climb the "wall of worry" -- but be wary, because we are currently overbought a bit.