Its possible that we may see a market rally. 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. Look for some price strength before taking any bullish positions based on this indicator. The volatility trend, based on a 9 bar moving average, has just switched to down.
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.