From the Link:
Damage has been going on inside the market for several days and finally the indexes showed some of it with all major indexes down today.
But just as the market is looking vulnerable to more decline (and may get some), the swing signals are getting oversold (see table below). Price is down only two days in a row but only two minor upticks kept it from being down five from the last high up day. CNN Money’s Fear and Green index continued to ratchet down. Long-term breadth is down 22 days. That’s getting to be a long time and it is now deeply oversold. And the Short-term Breadth and Volatility signals are both down five consecutive days. Five days is usually too many without a bounce.
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