From Investorplace:
The recent rebound rally in the Dow Jones Industrial Average couldn’t have come sooner. Before bouncing off its 50-day moving average, the index had declined for eight straight sessions — the Dow’s longest losing streak since 2011.
Still, while the headlines have been bad, the Dow Jones is still only about 2% off its all-time highs. The S&P 500 and Nasdaq Composite are at lofty levels as well. Translation: The market is full of overbought equities. And some would be downright foolish stocks to buy right now.