Monday, October 21, 2013

Nasdaq looks overbought

Altough I like to be purely technical and I do not see a clear signal on the Nasdaq index it does look expensive here. Eric Parnell, one of the few analysts I follow, lists how many asset types has started to deviate from the QE pump trend. But more importantly, the chart looks a bit toppy. That's why I do a small short sale from here:

Erics article:

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