Back on 12/13/10 I noted that the abnormally overbought S&P 500 was not bearish. I followed up with another post to begin tracking the current performance against the average of all previous abnormally overbought performances.
After a month of trading since the original 12/10/11 signal, SPY is currently out-performing compared against the average of all previous abnormally overbought performances .
At this point, the S&P 500 could trade sideways for the next month and it would still meet or exceed the average performance.
