No time frame is oversold. The white lines in the bottom two panes are intended to indicate that each rally since 2009 has been just a little weaker in terms of breadth.
Advance / Decline line still not below April 10th value. Indicates some strength.
McClellan Summation has made a new low slightly. Indicates some weakness. Note the still high RSI level in the bottom pane.
Not a new low in the percent of stocks above 200 day moving average. This indicates some strength, but this can rapidly change.
The percent of stocks above their 40 day moving average has remained quite a bit higher than the April 10 low. Implications are the same as above.
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