T2108 & NYSI Oversold Indicator
The week is almost over, and as you can clearly see the T2108 got a nice bounce from the market's action on Monday and Wednesday. I'm short to the gills right now, so I'm looking for tomorrow to continue with what we saw this afternoon in the markets - and that is more and more selling.
I didn't pull the trigger on anything today, though I would have liked to of in ADP, but it sold off hard and fast from the onset, so I never got in and I sure as heck wasn't about to chase after it.
The second chart is that of the NYSI Advance/Decline with a Stochastics overlay included. This is one of my favorite indicators for determining market reversals, and while it is at the bottom, it hasn't reversed, but could see it do so as early as next week.
NYSI Reversal Indicator