Its possible that we may see a market rally here. The Bollinger Bands are indicating an oversold condition. An oversold reading occurs when the close is nearer to the bottom band than the top band. The market is in oversold territory. Volatility is in a downtrend based on a 9 bar moving average.
Momentum is in bearish territory.
Rate of Change is in bearish territory. A signal is generated only when the CCI crosses above or below the neutral center region. Initiating signals when CCI crosses zero, rather than waiting for CCI to cross out of the neutral region can often help overcome this. The current short position will be reversed when the CCI crosses above zero. ADX measures the strength of the prevailing trend.