S and P 500 Not Oversold (Chart)

clipped from allamericaninvestor.blogspot.com The chart below is of the S&P 500. From this view the market is not oversold. The blue area on the chart is +2 and -2 standard deviation above and below the line. As you can see, beginning in February the market formed a beautiful uptrend. The rally was very orderly as the market never became overbought.

Original content Bob DeMarco, All American Investor