More On Overbought And Oversold
Markets that are overbought can and will become more overbought, and
markets that oversold can and will become more oversold. The fact that an
advance/decline indicator has reached some extreme number absolutely does not
mean that the market cannot move to even more extreme levels
–-Larry Connors, from
Connors on Advanced Trading Strategies (1998, M.
Gordon Publishing Group, Malibu, Calif.).