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A widely followed signal on Wall Street shows tech stocks are rising too fast

“We have seen a classic midday dip in the markets Thursday because certain sectors are absurdly overbought, and the volumes have been thin” writes Robert Daemmrich Photography for cnbc.com. Regardless: a reading of 99.33 on a large index is absurdly overbought.Right now, the Nasdaq composite index has an RSI of 99.33.
 
Source: cnbc.com



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