TheStreet.com RealMoney

A Move Down Would Be Bullish

By Helene Meisler

 About this article:
 Well, my mother returns from her big vacation Thursday and she'll find that the stock market didn't crash while she was gone. In fact, I believe it is trading exactly where it was when she left. Of course, as luck would have it, I'm taking a few days off now just as we're heading toward an overbought reading! We're just about there. My notes continue to say that we will be overbought sometime between today and Tuesday. And it appears that this reading will be another lower high. If you want the negative case, I can make it for you. The breadth indicators, namely the advance/decline line and cumulative volume lines, are all below their recent highs. And the S&P 500 did make a higher high Wednesday; so that is a negative divergence. The number of stocks making new highs on the New...

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