There are no indicators you can add to a chart that trigger an alert when a market has peaked. We need that indicator to be developed soon. If there were a bell at the top, it may have been rung today. All the big cap indexes are hitting RSI highs that have not been seen in several years. The Nasdaq 100 at 79.63 is the highest level since July 2014. Indicators can continue to be overbought for days or weeks but the higher they rise the more likely we will see a dramatic fall.
I am not recommending anything today. I do not feel good about adding long positions when the market is this overbought and potentially setting up for a decline, even if it is just a minor bout of profit taking. Bullish stocks are setting new daily highs and the rate of climb is nearly vertical. Even stocks with bearish charts are in rally mode. Be patient, a buying opportunity will appear.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays