Current rebound could go as high as 6850-6860 without breaking the downtrend in RSI.
But most of the stocks are already below their 50 day averages.
MSI is pointing down and still staying at quite high level.
Overbought and sold conditions have easened from their extremes and almost converged. Before the relation is inversed there is potential that index would stay low or decline more.
But seems like investors want to take a little bit more risk currently, so at least we saw short term market bottom.
The selling volume hasn't been special
Volume index hasn't made any new lows.
TRIN was temporarily positive, so the investors were buying advancing stocks (obviously when almost all the stocks were rising...).
