Hi adventra09,I knew they were both close but I didn't realise...

Hi adventra09,

I knew they were both close but I didn't realise just how close they were until I saw your post and checked the calculation for myself. I get 807.4 and 807.65! It's all the more reason to think that the top is in imo which then leads to the expectation that we should see a previous low broken before the market can make a 7-12 td post bull secondary rally.

Jason Leavitt is pretty good at staying on the right side of the market and is suggesting that a tradable bottom is close by, partly due to the spike in the number of new lows.

I can see his point but this is where I struggle with indicators... how extreme is extreme? If we're rolling along in a nice friendly bull market then I agree that we are likely at or close to a low, but if this decline is anything like the drop into last years lows then we still have a long way to go and oversold will just become more oversolder.