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| St. Louis kicker Josh Brown (#3) kicks a field goal during an away game against the San Francisco 49ers. The 49ers won 35-16. (Photo credit: Wikipedia) |
On Tuesday, pros were watching the market melt up take stocks to four-year highs, with the S&P (^GSPC) now more than 3 percent higher in August alone. Although the action seems bullish, "The drawback to this most recent strength is that although we have achieved new cyclical bull market highs, the action may have pushed a good number of stocks into overbought territory " says Dan Wantrobski, director at Janney Capital Markets in a Reuters interview.
If stocks are overbought, is the market at an inflection point?
Trader Josh Brown says not yet - but it could happen at the drop of a hat.
And on CNBC's Fast Money Halftime Report Brown reveals market 'tells' that he'll be watching.
"First there's small cap strength (^RUT). As long as that continues the light is green to own stocks," says Brown. "The second is participation. Watch new highs versus new lows and watch advances vs. decliners. That's how you know when to walk away." ... Continue to read.
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