And from Bespoke Investment Group:
The S&P 500's 10-day advance/decline line measures the total number of daily advancers minus decliners in the index over the last ten days. It's a great measure of short-term strength and weakness in the market, and extreme readings are thought to be indicative of a reversal. As of the close today, the S&P 500's 10-day A/D line had ticked to -1,500, which is the most oversold reading the market has seen in more than a year. Yes, market internals are extremely oversold on a near-term basis, even though the index is still above its 50-day moving average....MORE
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