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With a reading of 88.46,  this indicates extreme over bought.  Anything above 85 has indicated we are in for a correction or start of a bear market.

That is getting into extreme overbought territory!  When the number of stocks above their 200-day moving average goes above 85%.  Historically, readings in this area have precipitated either a major correction or a bear market.
[tags] NYSE Percent of Stocks Above 200 day moving average[/tags]

That is getting into extreme overbought territory!  When the number of stocks above their 200-day moving average goes above 85%.  Historically, readings in this area have precipitated either a major correction or a bear market.

[tags]NYSE Percent of Stocks Above 200 day moving average[/tags]