RSI reaches the overbought territory (above 70) which does not mean the market is going to go down. In the 1990s, RSI remained above 70 from 1996 to 2000 before the market crash. When the market was over 70 in RSI in 2007, the market did not peak until 2008. Potentially, the market could pullback to major support areas to unwind the overbought condition. The 1575 area (near the two prior peaks) now becomes support for the market corrections.
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