Overbought?

Another sign of a pending pullback as charted by the good folks at Bespoke Investment Group.

Bespoke: S&P 500 Percentage of Stocks Above Their 50-Day Moving Average

Bespoke: S&P 500 Percentage of Stocks Above Their 50-Day Moving Average

Bespoke: S&P 500 Percentage of Stocks Above Their 50-Day Moving Average

Bespoke: Percentage of Stocks Above Their 50-Day Moving Average (Financials & Industrials)

There is definitely debate on whether or not we are in the beginning of a new uptrend, or at the end of a bear market rally.  Either way, I don’t know about you, but I’d rather at least wait until these charts hit bottom again before buying anything new.

Source:
Percentage of Stocks Above 50-Day Moving Averages

http://bespokeinvest.typepad.com/bespoke/2009/04/percentage-of-stocks-above-50day-moving-averages-2.html

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