Commodity Prices

Gold •667 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,011.90	+17.30	+0.87%
WTI Crude •19 hours	101.94	-3.13	-2.98%
Gasoline •19 hours	3.595	-0.020	-0.55%
Ethanol •667 days	2.161	+0.000	+0.00%
Silver •667 days	30.82	+1.16	+3.92%

Silver • 667 days	30.82	+1.16	+3.92%
Copper • 667 days	4.530	+0.111	+2.51%
Brent Crude • 18 hours	108.17	-2.23	-2.02%
Natural Gas • 19 hours	2.780	+0.013	+0.47%
Heating Oil • 19 hours	3.946	-0.135	-3.30%

Headlines

1,052 days Will The ECB Continue To Hike Rates?
1,052 days Forbes: Aramco Remains Largest Company In The Middle East
1,054 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,454 days Could Crypto Overtake Traditional Investment?
1,459 days Americans Still Quitting Jobs At Record Pace
1,461 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,464 days Is The Dollar Too Strong?
1,464 days Big Tech Disappoints Investors on Earnings Calls
1,465 days Fear And Celebration On Twitter as Musk Takes The Reins
1,467 days China Is Quietly Trying To Distance Itself From Russia
1,467 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,471 days Crypto Investors Won Big In 2021
1,471 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,472 days Food Prices Are Skyrocketing As Putin’s War Persists
1,474 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,475 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,478 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,479 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,479 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,481 days Are NFTs About To Take Over Gaming?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

The Problem With Modern Monetary Theory

Modern monetary theory has been…

SigmaTradingOscillator

More Info

Contact Author

Bouncing Back From Oversold Territory

By - Mar 08, 2012, 6:31 AM CST

As we wrote following Tuesday's session: "... our Sigma Trend Index is already at oversold levels (-77), and this happened in 3 sessions only!!!! A short term bounce back could happen from these levels, but what is next?..."

And indeed, the market bounced back on Wednesday from oversold territory. But the big question remains: What is next?

It is important to see if the Sigma Trend Index and the Breadth Index are able to close for 2 consecutive sessions above the zero line. As long as they remain in negative, it means we are (at least) in presence of a short term correction.

If in coming days our key indicators start to deteriorate gradually, with prices declining faster than our indicators, then a sharp correction will be on the agenda.