It's Official: the Dow is More Overbought Than at the Peak of the Tech or Housing Bubbles

Phoenix Capital Research's picture

The markets are priming for a major inflection point.

I cannot remember a time when investors were more bullish. The Dow is currently more overbought (based on the 14 day relative strength index) than at any point in the last 20 years.

That includes both the peak of the housing bubble and the peak of the Tech Bubble.


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Graham Summers

Chief Market Strategist

Phoenix Capital Research


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Osmium's picture

Great news!  I'll short the hell out of the market and then sit back and collect millions!  Thanks for the tip!

roddcarlson's picture

Been sitting on the sidelines here for the last 20 years. Watched David Stockman rightfully predict that the stock market was over valued for the last 3 years to see it go up again and again. Good thing I didn't follow him in buying puts or shorting. Never short the government. But here's the thing if I were a gambler I think this is where I'd take everything I had and short all the bluffer stocks right now. It's time for a hard fall and Trump is their man! Since I'm not a gambler and I don't like supporting Wall Street I must make things of real value for real people with real capital. One of these days when all the liberals in the stock market like Greg Guethner get washed out (which he'll never admit) like their predictions of global warming (also based on hype), I'll still be making crap of real value. I have a long term patience and vision like Soros, but exactly the opposite plan. Yeah I'd short Soros right now, I'd also predict he'll be dead in the next 6 months due to "natural causes". The devil wants him and his baggy tired eyes to come home, at this point he's a liability and he knows it. God hates him, he hates himself, and Mr Baggy Eyes is dying right this moment and is going out thrashing into that deep dark night. But here's the thing I wouldn't wish hell on my worst enemy, so even Soros deserves to wisen up and stop his ways before he goes into the flames.

Clock Crasher's picture

Going into debt with borrowed ZIRP money to buy back your own shares.

GFC = "who could have seen that coming" better "hunker" down and fire as many people as possible because... share holders.

Fiancialize the economy, raise prices, cause inflation, roll debt over, load up the consumer and corporations and governments with more unpayable debt because you de-industralized the nation. 

Now raise rates.

Snaffew's picture

without debt...the world cannot continue.  The proliferation of debt in the pursuit of growth is the main objective...once debt cannot maintain growth...the global economies implode.  Coming soon to a global theatre near you!

Bam_Man's picture

Yeah, don't worry.

This will end well.