Cautionary Levels Part 2

UPDATED 7/3   5:10AM

The McClellan Oscillator (Telechart T2106) is back to cautionary levels (+316) for the immediate short term just like it was on 6/19/2012 right before a 3.2% correction in 4 days for the SP500.  While I believe this overbought reading is positive in the intermediate term, in the short term it might be best to wait a little to get to aggressive on long trades if you are a short term trader.  My focus today will be ETF’S that are down 5 days in a row that might revert in the short term due to the overbought nature of the market.  ERY, SMN, VXZ, SRS, TWM, DUG.


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