The prototypic drawing is a NYSE Oscillator period of time illustration that shows hard-heartedly overbought indicators. An oscillator for the oscillator, ULT, is above 70, which is uncommon. The other iii indicators, above and down the stairs the fee chart, are also stringently overbought. The four-week MA is at 39.85, which is in the realm where on earth the open market is active to unify or arrival a downtrend (also shown in aged charts).
The second illustration is an SPX every day grid that likewise shows gravely overbought terms. Major hostility continues to be nigh on 1,270 (upper monthly Bollinger Band). The premier highest benefaction flat is the 10-day MA, currently at 1,247 and mounting. If SPX begins a consolidation subsequent week, it may leak to the 10-day MA, which will growth to circa 1,255 by the transitional of close week. Also, 1,253 is a multi-year Fibonacci level.