RE: RE: garded Well, SPX is overbought right now - no questions about that. It hasn't touched its 4day ma line so theoratically it should pull back on Monday or Tuesday. Take a look at the chart and it becomes clear that SPX tends to touch the 4day ma line (blue) almost every day.. it skipped two days in a row now meaning that on Monday or Tuesday at the latest it will do that.
Alcoa and Monsanto are reporting earnings on Tuesday so this should set the stage for this coming week since there are very few economic reports of any significance.
https://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p15004217929