This is an interesting post from one of our contributors.  If the bulk of these overseas markets are in overbought territory again, then any excuse the markets can use to sell off may be taken advantage of.  Of course the flip side and the balanced side would dictate that readings like that can go on and on…… Here goes:

What a difference a week makes.  Asshown by our overbought/oversold charts of global ETFs below, almostall countries that we track are currently at overbought levels onceagain.