s&p 500 bullish percent index..is it overbought...

Discussion in 'Trading' started by S2007S, Nov 23, 2006.

  1. S2007S


  2. but what does overbought MEAN?

    RSI over 70 is also an indication of "overbought".

    great. does that mean it can't stay "overbought" for a given # more of minutes, days, weeks, months?

    of course it can.

    so, even if one agrees and says "yes, it's overbought" what exactly does that conclusion lead you to believe is a proper trade strategy?
  3. Yes it was overbrought since Sept. but the prices still climbed another 20 points. About 40%.....thats the reason you should take indicators with grain of salt.
  4. all these bear posts poppin' up every hour or so suggest me we are goin' higher.