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S&P 500 Financial Sector Overbought

The S&P 500 Financial sector is now 28.5% above its 50-day moving average. Below we highlight the historical 50-day moving average % spread for the sector going back to 1990 (as far back as daily sector pricing goes). As shown, just as the sector hit extremes on the Dover Sole side in recent months, we've now hit extremes never seen before on the overbought side.

 

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Today, Russia finished operation in Chechnya. They are moving tanks and soldiers away.

 

3.

C April 17, 2009

FHN April 17, 2009

GE April 17, 2009

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Do you know how many of the past Fridays have ended up.

 

Do you know how many of the past Fridays Sow prints 8,000 - weakend closes for the Sheeple and Talking Head shows.

 

Answer: Too Many.

 

And for TJ: Investor's Business Daily sez the worst is over. Does that count?

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UPDATED for April 15

 

$SPXA50R - S&P 500 Percent of Stocks Above 50 Day Moving Average (EOD)

http://stockcharts.com/charts/gallery.html?$SPXA50R

 

NYSE Percent of Stocks Above 50 Day Moving Average

http://stockcharts.com/gallery?$NYA50R

 

$BPNYA NYSE Bullish Percent Index (EOD)

http://stockcharts.com/charts/gallery.html?$BPNYA

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they've flipped a switch that cannot be turned off

 

anti-gov't street protests could swell from tens of thousands to hundreds of thousands overnight

 

so they can't let the stock market fall, gotta greenprint showprint and hope

 

hype the Big Games and Adult Sites and other opiates of the maSSes

 

butt the sleeping giant has awakened

 

no stopping it now

 

the dirty rotten sick corrupt federal gov't is finished

 

best they can hope for is to steal another ten or twenty trillion before they're evacuated from White House roof by helicopters

 

of course they'll never get to spend it

 

because today there is nowhere to run, nowhere to hide

 

personal, individual payback is a bitch

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I'm glad there is no "one-way" thinking happening over on xtrends..... :rolleyes:

 

It came to my attention that a few readers who has been bullish for the last few days getting nasty to the others even tho the market didn't budge in the direction of their delusion. Well their delusion came true today! :rolleyes:

 

Market will not be ready to visit the lower boundary of the range (800 on SPX) until most of the type-1 suckers are lured into the bull buss.

Well those "suckers" are getting beaten like a red-headed step child right now... :rolleyes:

 

Poor Sol and Attila...it must suck to be them right now...

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For anyone wondering why the REITS are getting gassed....the reason is as follows:

 

REITs need to do capital raises.....via stock issuance

 

Da Boyz trying to convince REITs "Now is the window"

 

REIT are thinking about it....thinking about it

 

Prop desks goose REIT shares

 

Da Boys sez "See !!!!!"

 

REITs issue shares

 

Da Boys make some nice coin via underwriting fees and shorting the stock into the offering and watch it collapse after the issuance....

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