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11/27/2005
Although I remain relatively bullish on the stock market, one measure of the market sentiment has reached a rather overbought level.
Such a measure is the S&P/VIX ratio and it provides us with clues for the relative condition of the market relative to its past. The all time high of the ratio reached this July will act as resistance for the market rally.
This is not a trade recommendation and no one should treat it as such. |
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