With the continuing stupid pigheaded obstinacy emanating from our so-called leaders in Washington, there is no point whatsoever in bothering with any technicals tonight since everything now hinges on the debt ceiling debacle.. This sort of leaves me at a loss, since what I do is technical analysis.
Technically, we're now at oversold levels and due for a rally in a day or two, but practically speaking until these suicidal egomaniacs hell-bent on destroying the United States can get off their collective butts to do something constructive, the market will simply continue lower.
As I stated earlier this week, I am now out of the game until after Doomsday next week. I've never seen anything like this and I am completely disgusted.
Just overbought, or a "good overbought" signal?
8 hours ago