doctortodd

David Fry's Market Outlook For Wednesday

With the RSI approaching or past 70 on so many tech indexes, I expect a pullback soon. Maybe not tomorrow, but soon. Now bring up a 5-year chart of QQQQ and notice how the MACD has reached the highest absolute levels in over 5 years. Great momentum, but overextended. I'm itching to take profits in big-cap tech and I bet I'm not alone.