Hi, i interpret "mega-overbought-ness" in STI presently as strength. STI is now in a "trending" mode and not stuck in a trading range. Without going into such mega-overbought states, it would be difficult to go higher and higher. During uptrends, overbought states can persist for long durations. During downtrends, oversold states will be dominant.

i use ADX to gauge if the market is trending or trading, inaddition to trend-lines, of course.

Below is my daily chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.
 
If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments and plse do not be so childish or lunatic as to abuse the

rating system by rating it as "bad post", accumulating for yourself and your

next generation, "bad" karma for your "bad" deeds.

If u think it is a bad post, then be constructive and kindly post your TA for sharing.

This is only my view n I may be right or wrong, so dyodd.