on the daily's, the last few rallies seemed to have turned the momentum up from a deeply oversold level... yet the rate of that change leaves the lower timeframes all overbought... i think the tell will come from watching how we work off the overbought levels the next couple/few days, if we can get some traction from there and move up through the next higher degree downtrend line with good strong volume, i think we'll lock in the next cycle up, for a good 1-2 month countertrend rally.
(short qqq's from today, net long via short ES, GC, C & CT puts)
