A Quick Bounce Could Be at Hand

There is so much to review after Monday's market moves that I want to take this in order of time frames. Let's begin with the indicators that say we can have a quick short-term bounce to relieve some of the selling that took place in the last session. From there we'll move on to the fact that nothing has changed in the intermediate-term indicators, as they remain overbought and are heading down -- which keeps me in the camp that says the market needs more of a correction. Finally we'll look at the currencies, since that seems to be the main area of interest these days.

If you want to look for a short-term bounce, you might cite that the Arms Index (TRIN) came in around 3, and the fact that 90% of the volume was on the downside. Both of these indicators often lead to a one-to-three-day bounce....551 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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