May 4th 2026 Watchlist!
The market is overbought right now. But it's NOT extended. Those are different things and most traders don't understand the distinction.
Overbought is a technical indicator from closing prices. Extended is about price location and distance from a breakout. We just pulled out of a four-day consolidation. Staying overbought is actually a sign of strength — it means the market is trending, not topping.
Meanwhile oil and tech decoupled. Oil up 8% last week, QQQ up 1.5%, both going the same direction. That changes the game.
Full weekly watchlist and video breakdown on The Bull Sheet:
Can you explain the difference between overbought and extended in your own words? If you can't — watch the video. This concept will save you from selling too early in a trending market. Drop your take below.
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May 4th 2026 Watchlist!
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