Commodity Prices

Gold •646 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	2,065.20	-46.90	-2.22%
WTI Crude •13 hours	95.81	-2.06	-2.10%
Gasoline •13 hours	3.016	+0.015	+0.51%
Ethanol •646 days	2.161	+0.000	+0.00%
Silver •646 days	30.82	+1.16	+3.92%

Silver • 646 days	30.82	+1.16	+3.92%
Copper • 646 days	4.530	+0.111	+2.51%
Brent Crude • 12 hours	95.20	-0.72	-0.75%
Natural Gas • 13 hours	2.652	-0.018	-0.67%
Heating Oil • 13 hours	3.745	-0.192	-4.87%

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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.