Charting My Interruption (CMI): “Next Up…Overbought Downtrend.”

Highlights

  • The mudslide off the highs has cut through supports like a hot knife through butter, ignoring very oversold conditions along the way.
  • In the decline, the MT Risk Gauge has down ticked again, this time to 6, putting it in the bottom half of mixed, adding to the appeal of reducing exposure into a bounce, with short exposure a consideration for those nimble enough.
  • When the bulls are finally able to muster the strength for a comeback, they will now. . .

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