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 a bottom in this area. Volatility is trending up 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. Begin looking for an attractive point to cover short positions and return to the sidelines. ADX measures the strength of the prevailing trend.