FYI: Below we provide our trading range charts for the S&P 500 and its ten sectors. For each chart, the light blue shading represents the sector's "normal" trading range, which we calculate as one standard deviation above and below the 50-day moving average (white line in each chart). The red shading represents between one and two standard deviations above the 50-day, and moves into or above this zone are considered "overbought." The green shading represents between one and two standard deviations below the 50-day, and moves into or below this zone are considered "oversold."
Regards,
Ted
http://www.bespokeinvest.com/thinkbig/2014/9/5/sp-500-sector-trading-range-charts.html?printerFriendly=true
