Even without weaker economic data, the market is notably overbought and due for a pause.
The 14-day relative strength index for the S&P 500, a momentum indicator widely watched by Wall Street technicians, is at 78, the highest level since January 2018. Any reading over 70 is overbought, readings near 80 are very overbought.
The pause would be welcome, Young noted. "The market does better with two steps up, one step back," he said. "It would be nice to get a little digestion before another leg up happens."
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Prince Harry Dressed as Santa Claus and Went ViralThe 35-year-old royal dressed up as the jolly Saint Nick to bring smiles to the faces of families of fallen soldiers for the charity Scotty's Little Soldiers.
Consulte Mais informação »
In Santa Fe, Housing Developers Contend With Affordability CrisisThe median home price in Santa Fe, New Mexico, hit a record $370,000 in 2018. The state is one of many places in the country facing a growing crisis of housing affordability. hereandnow
Consulte Mais informação »
I've Worn Hair Extensions for 14 Years—These Are the Top 8 Brands to Shop for BundlesShop the best online hair extension brands for clip ins, wefted hair, and faux bangs.
Consulte Mais informação »
28 Yogurt Upgrades You Should Eat for Breakfast Every Damn DayEat yogurt for breakfast every day with these sweet and savory mix-ins.
Consulte Mais informação »
Prince Harry Dressed as Santa Claus and Went ViralThe 35-year-old royal dressed up as the jolly Saint Nick to bring smiles to the faces of families of fallen soldiers for the charity Scotty's Little Soldiers.
Consulte Mais informação »
My Favorite Hangover Cure Is Disguised as a Drug for PMSCarla isn't a doctor, but she swears this helps.
Consulte Mais informação »