Friday’s Close Will Determine if the Top Is in for Stocks: Suttmeier
"Momentum has been over-bought for a very long time for all five major averages," Suttmeier says of the Dow Jones Industrials (^DJI), the S&P 500 (^GSPC), the Nasdaq Composite (^IXIC), the Dow Jones Transportation (^DJT) and the Russell 2000 (^RUT).
If that happens, he says, it will ''confirm a major top" in the markets was set on May 21st and 22nd (closing high and intraday high), and that a clear cut sell signal will be triggered.
http://finance.yahoo.com/blogs/breakout/friday-close-determine-top-stocks-suttmeier-163119013.html;_ylt=ArPVn749Qi0MabMpqH.97hqiuYdG;_ylu=X3oDMTN1OHIxcjdkBG1pdANGaW5hbmNlIEZQIE1lZ2F0cm9uIDIEcGtnA2ZjYzk2MTE3LTRiYzMtMzZmOS1hYjkxLTMzZWYyYjc5ZDI4ZgRwb3MDMQRzZWMDbWVnYXRyb24EdmVyAzhiZDU3NzIzLWQ0NDktMTFlMi1hZjNmLWYwMGQzNGViZWUyYQ--;_ylg=X3oDMTFzdHVuM2RlBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3BtaAR0ZXN0A09CVVNGaW4wMQ--;_ylv=3?vp=1