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Dow Highly Overbought?
By Mike Paulenoff | Published  05/8/2006 | Stocks | Unrated
Dow Highly Overbought?

 

The DIA (Dow ETF) has made a new high today at 116.  My near-term work is very overbought.  This is not a particularly appealing condition ahead of a Tuesday session (a potential "Turnaround Tuesday?").  I will tighten my stops for the duration of today's session.

 

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.