By Liz DeMera
Looking at the following charts below, I believe will have a rally sometime this week. Many folks looking for the market to break down will be disappointed as the data shows we should get a rally before a break down. By no means do I believe this is the “Bottom” more so as I believe that will come later in time as the market internals are slowly deteriorating.
See this 1st chart as it demonstrates the 10 Day Moving Average of the TRIN that is stretched to the downside.
The 2nd chart represents an oversold NYSE 10 Day Net Advancing Volume.
The 3rd chart is a 10 Day Moving Average and 30 Day Moving Average of the NYSE advancing /declining data as slightly oversold.
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