A lot of overbought

[Snuskpelle]

This rise is very vertical

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.

 

[trader1974]

I am out of the market. I do not like what I see. A lot of optimism

 

[murray t turtle]

The market has the wind at its back this time of year, newer traders may not be aware of the very real & strong seasonal influence. When the general public started getting into TA overbought became a good buy signal and oversold a great time to start shorting.

%%
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