Market update

Happy Canada yesterday, by the way. A quick update on current selling pressure: US stocks are getting more oversold, but it could still get a lot worse. Compared to previous market updates, we could easily see another 1000 'mildly' oversold stocks (table 1) and the % above SMA 20 and T2108 could both fall to 10 or lower (table 2).

US Stocks in Overbought and Oversold Conditions 01-Jul-2010
Level	Overbought	Oversold	Overbought vs Oversold	OB/OS Ratio
Mild RSI(14)=60 vs 40	132	2745		0.0
Moderate RSI(14)=70 vs 30	29	622		0.0
Extreme RSI(14)=80 vs 20	9	45		0.2
Ridiculous RSI(14)=90 vs 10	1	2		0.5
1 Out of 5096 US Stocks on FINVIZ

US Stocks in Relation to their Moving Averages 01-Jul-2010
Worden's T2108 on 29-Jun-2010 = 24.96

Related Post:

• Previous market update