Piker Signals flashed overbought on Friday the last 3 times there was a slight drop in the market. This is not necessarily a short signal but a Long Overbought signal. Regardless it shows sign that supply is heavily tilted to the long side.
Check out the Piker Signals Returns . Using the Piker Signal system the last trade was short on 6/20 it is sitting on a 4%+ loss.