Overbought ETFs below the 200 day Moving Average
Stocks continued to surge higher for a third straight day on Wednesday. Investors and traders had been trying to make heads or tails of the good, the bad and the downright confusing news about Europe’s debt crisis throughout the day. This made for a choppy trading session to start the day before the markets finally surged higher. The markets did close well off of the highs of the day which may be an indication that this round of buying may be coming to an end as sellers entered the market place late in the day.
Once again, as has been the case over the past few weeks, all eyes will be focused on any and all news that comes out of Europe.