Transports Most Overbought in History of the Index

Of course things can get even more overbought but the charts below show, per the monthly RSI indicator, the transports are currently the most overbought they have ever been. There are also some channel lines and long-term cycles lining up that may portend an important reversal soon. If the parabola continues much further, then I guess QE infinity will continue to rule the markets.

Kim Rice 11/25/14