Overbought/Oversold Oscillators

Last week I said that we would get more overbought in the short-term. As you can see below, that has certainly come true. At this point we just have two options to work off this overbought state - either through time or price. Given the market's mood at the moment, the hope is certainly on the former instead of the latter. The chatter today is that any weakness we see is only a healthy pullback. Time will only tell.