Zitboy, Valid questions.
RE: can we continue to defy the overbought conditions, and move up?
Answer is sure we can. With the proper factors
RE: is the only recourse to an overbought market a sell-off?
No. you can have a tight trading range, sideways correction or other factors that cause indecision
Re: besides earnings, can some other market factors turn that indicator
Yes
Of course there is a great deal to all of this. Far more than I think anybody would be willing to post on a message board. Currently I'm betting against the market moving up, I thinking a sell off is more than overdue from a dozen indicators and there likely would not be enough outside news to over come the poor earnings vs price of share factors. We just had a 40% run in the Nas and 100% plus in the telecom sector. We had a bounce off the res levels today. I haven't had any time to study where we may go next. I don't have any money in the markets right now so I don't spend the time needed to try and project with any detail fine enough. { E waves would be the best right now}Whatever I do buy I close at the end of the day.{day trade only, and only when I know I'm going to make out.} To much money for me to guess wrong . I can wait. And in the waiting, as I have said I've slowed down on my chart watching. It's been a very enjoyable spring. I intend to enjoy it.
AI
Market Data 
Markets 
