Bloomberg’s John Authers: The #Nasdaq100 has been further above its #50-daymovingaverage, a measure of the short-term trend, than at any time since 2002. This “ #overbought” state contributed to the brutal #selloff. #stocks #markets

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Measured on a quarterly basis, #gold triggered an #overbought signal in the second quarter of 2024, based on the Relative Strength Index (RSI), a technical indicator often used to uncover profit-taking opportunities, chart @MorganStanley
4 Bloomberg: … said Hebe Chen at Vantage #Markets in Sydney. “A pullback is very much on the table, with the #S&P500 glued to #overbought territory.”
stonks down 500 today - they probably need to crash a bit more even #overbought
#Stocks struggled after a #rally that dragged the #market into one of the biggest crashes of the last century and pushed the #SP500 close to "#overbought" levels. #Industrial and #financial stocks performed poorly. #Amazon led gains among retailers as Cyber Monday kicked off. #US