The Nasdaq up-down record for the first trading session of April OpEx week is 7-6 since 2000. I'm expecting a 7-7 tie on Monday.
And so, following the selloff on Monday, it swung from one end of the spectrum to the other on Tuesday, albeit not as extremely overbought as it was oversold on Monday. Looks like it's good to go shorting this bounce.
In any case, my IM Index (Red Curve) had gone into the extreme oversold territory in the closing hour. An oversold bounce tomorrow seems probable. Of course, intraday data are always subject to constant change.
