Shockingly after one near 2% decline in the indexes some of my favorite indicators are showing that they are near oversold conditions.
Remember that my indicators are better at finding bottoms than tops (e.g. bottoms seem to culminate in panics while markets can melt up in small increments for a long time). I think humans reach optimism more slowly than they respond to fear.
Medium term in a rapid decline. Neither overbought nor oversold.
"If stupidity got us into this mess, then why can't it get us out?"