Fresh 1-month lows came in at 3,188, one of the highest readings in the last four years, and it signals a short-term bounce.
However, after the initial pop, more often than not, the low is retested.
The bottom line is if you wanted to lighten up, it probably pays to wait a few days and then do it.
Secondly, if you are into playing bounces, the fresh one-month lows coupled with the McClellan Oscillator, which is oversold, gives you a good backdrop.This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this blog constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog. The stocks presented are not to be considered a recommendation to buy any stock. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.