Monday, January 12, 2009

A Few Charts Showing the Short-term Oversold Condition

Just a few quick charts to show the short-term oversold condition I was talking about earlier. I haven't done my scans yet, but based on volume, I may change my mind and look to play a quick bounce if we get down around 850 on the S&P. I certainly wouldn't be looking to short anything here and if I was short, I may be more inclined to cover some soon.

S&P 500
Nasdaq
XLF
All Charts from Telechart, Courtesy of Worden Brothers, Inc.

Probably won't be back later - good luck Tuesday.

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