Market very oversold–bounce coming?

GMI0/6
GMI-20/9
T210817%

With the put/call ratio at 1.23 and with many stocks at oversold levels, we will likely get a bounce soon. But the major U.S. market indexes remain in  Stage IV down-trends. I might consider buying an inverse index ETF or some puts to profit from a further decline, but only after the market bounces and hits resistance. It is nice to be in cash on the sidelines.

By the way, this weekly chart of the Shanghai Composite Index shows it to have now begun a Stage IV down-trend. The best is yet to come….

SSEC

2 thoughts on “Market very oversold–bounce coming?”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.