Dow is overheating!!!!!!!!!!

ADX to the moon RSI 77 wow! Weekly RSI 74 these vertical moves are not healthy

 

Yup, shorts are feeling the burn. It will top out soon enough I think, but as long as the trend remains intact I would not short it if you gave me YOUR money! Bears just need to wait until the game is up, and if you're a trader... be cautiously long until that time.

Goodluck,

 

hmmm....COMP breaks the 2k handle....INDU cuts through 10400 like butter.....SPX closes nicely over 1100...AND Tom Ridge comes out telling everyone the nation is a much safer place to be......it`s all a little to "happy" for me....

 

Isn't RSI supposed to be way overbought on a breakout?

 

Oh today I had so much fun running those stops on all those shorts.....like shooting fish in a barrel......sometimes you get money handed to you!

 

Somehow I find this hard to believe (in your case).

 

I've been watching the nearly-parabolic ADX move in both the Dow and S&P 500. Don't try to short this market right now -- it is like stepping in front of a speeding freight train.

 

i think this could be partly tax related. the market is up big this year. everyone has gains they dont want to book till jan 1 at the earliest therefore no sellers.

 

Weekly DOW industrials chart with ADX rising up thru 20 would be considered bullish.

 

ADX rising up from under 20 would be considered bullish on this Dow industrials chart