An Observation

Markets are closed today for Good Friday so it's been a morning of catching up on some paperwork and looking at a few charts.  As I look, I notice a lot of ETFs that are statistically overbought right now.  Also the markets have been exhibiting some signs of distribution in the past week or so even as we flirt with new highs.  Couple that with higher valuations and it would suggest that there's a higher probability of a return to a market with a bit more volatility in the coming weeks.  

Of course there's no law that says that has to occur but all the signs are coming together for an environment where that sort of scenario could possibly take place.

Back Tuesday.