We Aren't Oversold in The Short or Intermediate Term - Not Good News
Just a few charts to check out just to show that we are definitely NOT oversold in the short and intermediate term. We are in a very news-driven market right now and a sharp bounce can materialize out of anything so be alert, but based on these charts, the rest of this week could be quite ugly. Be careful.
Charts from Telechart2007, Courtesy of Worden Brothers, Inc.