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Posted on July 07, 2008

The markets have become across the board oversold. While that doesn't mean we will see the end of the bear market, it does mean an intermediate term bottom should be arriving in the near future. Both the NASDAQ and S&P 500 have reached levels on the McClellan Oscillator that have coincided with rallies in the past. In addition, the 10 day moving average of the Advance Decline line has moved to levels typically associated with intermediate bottoms. Finally, the long, medium and short term stochastics have all lined up in oversold areas. That's a relatively rare occurrence and a...

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advance decline , bear market , markets , oversold , short term , sp