American Heritage® Dictionary of the English Language, Fourth Edition
- v. Past tense and past participle of overbuy.
- adj. Characterized by excessively high prices owing to prior heavy buying and a concomitant rise in prices: an overbought stock market.
- adj. finance A stock or commodity market condition where there has been significant trading bidding up prices to higher levels, levels which seem overextended or excessive on a short-term basis.
“ The recent pullback was constructive, in our view, because it relieved widespread short-term overbought conditions, " said Katie Stockton , chief market technician at MKM Partners.”
“ We view the pullback as healthy because it relieved widespread short-term overbought conditions without a loss of positive intermediate-term momentum, " said Katie Stockton , chief market technician at MKM Partners.”
“We could see a pullback this week as the recent rally did bring short-term overbought conditions, but I don't think a pullback will retrace the entire rebound," Ms. Stockton said.”
“Wrapping it up, expect the market to move higher, but not without some struggle as short-term overbought conditions will likely add some drag to the day-to-day activity.”
“Against this backdrop, each benchmark is near-term overbought - the S&P has risen 4.7% across just three weeks - and a consolidation phase is overdue.”
“This was a testament to the positive momentum behind the uptrend, which allowed long-term overbought conditions to be sustained for more than three years," Stockton said.”
“Because of the steepness of the rally and the short-term overbought conditions, traders have to be aware of the possibility of a near-term correction especially since Friday's U.S. Non-Farm Payrolls report typically triggers a volatile two-sided reaction.”
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