Overbought can continue overbought？

A month ago, when I warned that the market was overbought and we were living an overextension, the answers in social media were: "Overbought can continue overbought"

I wrote for subs a special study of overextensions, the decline worked as in 7 comparable overextensions. The study also includes the aftermath of such pullbacks.

No mention that a month ago April was statistically a bullish month!, I hope the irony of my post from a month ago was captured (read below).

Two weeks ago, the narrative shifted to "Oversold can stay oversold."

Following the crowd is the worst decision in trading.

Another special study is coming, I'm waiting for the monthly chart to close. $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$

https://twitter.com/SmartReversals/status/1785286137373728937

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