The Dow Jones Industrial has paused at the January high of 9088 and is at extremely overbought levels according to a daily RSI study. Bearish MACD divergence suggests a possible correction back towards the June swing high. The Nasdaq composite and S&P 500 are in similar technical situations and are probing key fibonacci extension levels. Other metrics of risk appetite such as the CRB index and Gold have both stalled at key fibonacci retracement levels. After such an impressive run look for equities to consolidate next week.
