Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S.(Photographer: Michael Nagle/Bloomberg)

U.S. Stocks Reach Most Overbought Level in 22 Years: Chart

U.S. Stocks Reach Most Overbought Level in 22 Years: Chart

(Bloomberg) -- U.S. stocks rose to another record last week, and in the process reached their most overbought level in more than two decades, according to the relative-strength index. The technical indicator of market momentum signals an increased potential for a pullback when it rises above 70. The S&P 500 closed Friday with an RSI level just below 82.

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