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

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?
 
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.
 
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