OBOSS Market Timing 04/11/13 ‘OBOSS at 2.35’

OBOSS is at extreme overbought levels.

There is always room for the market to move higher, but odds favor a pull back whenever OBOSS gets this overbought   If you’re waiting on the side lines, this is not the time to be aggressive with new positions.

Protecting profits is job #1.

Earlier in the day today we saw a move into the upper end of extreme and a small rejection around SPY’s 159.50 resistance zone.  The market pulled back just enough off that resistance level to keep OBOSS from having a higher overbought reading into the close.

Consider reducing directional exposure in your portfolio and look for opportunities to reduce risk.

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