Market Breadth Data******************************

Thursday, January 17, 2008

Today's SPX decline illustrates the value of the indicator used for the mechanical trading system. While many were calling for an end of the pull-back yesterday, the indicator clearly shows that, contrary to popular belief, the market was still pretty much overbought at the close on January 16th.

At this rate, however, the market will be oversold tomorrow when/if it drops below 16.

In the meantime, gold continues to swing right on cue.

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