Today's action was probably enough to force the market into an oversold condition.
50 Leaders above the 10 Day SMA = 10%
50 Leaders above the 50 Day SMA = 56%
50 Leaders above the 150 Day SMA = 92%
50 Leaders making new 20 Day Highs = Zero
50 Leaders making new 20 Day Lows = Ten
I'm expecting a move up for a few days to work off this oversold condition. What happens then will be crunch time.
Cheers
Red
