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. Look for some price strength before taking any bullish positions based on this indicator. Volatility is trending up 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.