It was very horizontal a few days ago. Besides positive vertical => more positive to come often enough for the above to at least be a non-signal or at worst (for you) a counter-signal.
%% And over bought is so stinking subjective. However some like RSI; so its showing SPY overbought 84% ,priced @ $65. area ; 1996.Then SPY upTrended to $150 area. NOT to worry its still an uptrending bull market. In the bears favor SPY is up 12.55% YTD, + thats a usual average for 52 weeks,LOL so could see a selloff; usually do@ end of quarter. BUT not every company is as badly run as TSLA, GE.......; they selling those hard, but maybe not oversold. LOL