{"id":67189,"date":"2024-01-06T22:16:40","date_gmt":"2024-01-07T06:16:40","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=67189"},"modified":"2024-01-08T19:46:28","modified_gmt":"2024-01-09T03:46:28","slug":"overbought-conditions-in-peril-as-new-year-weakness-continues-the-market-breadth","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2024\/01\/06\/overbought-conditions-in-peril-as-new-year-weakness-continues-the-market-breadth\/","title":{"rendered":"Overbought Conditions In Peril As New Year Weakness Continues – The Market Breadth"},"content":{"rendered":"\n

Stock Market Commentary<\/strong><\/h2>\n\n\n\n

As new year weakness continues in the stock market, a serious tension has emerged in the message of the market between profit-taking versus a sustained top<\/a>. An extended overbought period raises the stakes for the resolution of this tension. As long as the stock market remains overbought, I will assume the current selling is a garden variety pullback that is delivering a much-needed cooling period…and select buying opportunities. However, once the overbought period ends, buyers will need to step in with force to prevent bearish trading conditions from completing a takeover of the trading action.<\/p>\n\n\n\n