Getting Oversold

The market is starting to get oversold as measured by the 10 day moving average of the NYSE Advance - Decline line.
If the market continues lower for the next two days we will get a good oversold reading. Below is the raw data that makes up this 10 day moving average. We will be dropping positive numbers for the next two days. If those positive readings are replaced with negative readings than we will be dropping negative numbers for eight out of the ten following days. That would make a good oversold reading.
Option expiration often helps a trend to persist so it is possible that the market remains weak through Monday of next week. I would be very surprised if the weakness lasted further than Monday.

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