Commenting on the fact that most indicators seem to signal an oversold condition, Richard Russell said: “Technically, if the market isn’t poised to rally now, when will it ever rally? Despite the depressing newspaper headlines, the technical picture of the Dow now is one of being super-oversold. Investor sentiment is on the verge of being demoralized. The weakest kind of market is a severely oversold market that refuses to rally. Sad to say, that’s what we have now.”
Very scary stuff, All great crashes happen in this type of market. Once again we have reached a binary stop. Either massive up or massive down.
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