Overbought/Oversold Indicator Suggests More Room For Market To Run

by: TickerSense

Looking at the number of overbought vs oversold stocks on the S&P 500, it seems that there may be more room to run for US equity markets. While the number of overbought stocks has risen in the last couple of days, it is not nearly as high as it has been at other points during the last year, indicating that the number could easily push higher before hitting extreme overbought levels: