History Hints Overbought Dow May Be Just Getting Started: Chart
Who you gonna trust, the technical analysts or the historians? The last time the Dow Jones Industrial Average rallied with as much sustained momentum as now was in the 1970s, when its relative strength index had four streaks in overbought territory of 22 trading days or more. Techies consider a cross below the RSI threshold of 70 a bearish signal. Seller beware: The Dow continued rising after three of those previous four.
Source – Bloomberg
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Wow, that's really interesting to know.
I always trust the historians :)
Thanks for sharing this useful information