Major Averages

It's been a great run for the major averages as they zero in on their targets.

The Nasdaq Composite has been the strongest, but is nearing overbought.

 2700 is the 1st target.  The indicators are nearing overbought so a correction should be expected.

 The Dow Industrial has been the weakest but still has a shot at its target of 12,000.

The S&P 500 broke to a new 2 yr high this week as it zeros in on its target of 1288.

The overbought nature of the averages suggest caution in the weeks ahead.