The ADRE index continues to be extremely overbought. (Of course in recent days I have brought this up several times to the blog already) The RSI-2 is now at 99.68%. RSI-5 is well over 90% (a rarity), but now the RSI-14 is now over 70%. The chart below has red vertical lines drawn where ADRE has exceeded the 70% RSI-14 line over the past 2 years. A 61.8% retracement of the spread between the 2013 high of 40.38 and the low of 31.52 is 36.99. The index is currently trading at 36.94.

Since the middle of March, this move has been parabolic in nature. The EEM emerging markets etf chart looks just like ADRE. The ADRE has had 2 separate 99% readings in 2011, just one in 2012, and had 2 consecutive days of 99% in Sept of 2013. Adre is now above its 9 day line for the 10th straight day.

http://stockcharts.com/h-sc/ui?s=ADRE&p=D&yr=2&mn=0&dy=0&id=p21203512822&listNum=1&a=251751882

Also - at the moment my VIX and RVX charts have SHORT signals as all 4 of the indicators I use are at extreme levels.