The market appears oversold, but may continue to become more oversold before reversing. Look for some price strength before taking any bullish positions based on this indicator. Volatility is in a downtrend based on a 9 bar moving average. Momentum is in bearish territory. And, the market put in a 45 bar new low here.
More lows are possible.
Rate of Change is in bearish territory. And, the market put in a 45 bar new low here. More lows are possible. This short position should be covered when the CCI crosses back into 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.