Summary

• The S&P 500 Index (SPX) just swung from oversold to overbought in the second-shortest time frame ever.
• The MoneyShow Table of the Day shows the 14-day Relative Strength Index on the S&P just surged from below 30 to above 70 in only 11 days.
• Then there’s the huge shift in sector leadership. Through midday Friday, the State Street Technology Select Sector SPDR Fund (XLK) was the big April winner at +14.8%. The State Street Energy Select Sector SPDR Fund (XLE) was down 6.7% month-to-date.

By Mike Larson

Think the stock market just went from downright depressed to extremely euphoric? It’s not in your head! The S&P 500 Index (SPX) just swung from oversold to overbought in the second-shortest

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