This rare oversold pattern now exists in the market

Six of the last 7 days have put in lower lows.

Just how rare is this
extremely oversold pattern? It’s occurred 39 times since 1/01/00 (about once
every 37 days), and on average, the S&P gained 10.2 points the next day (31 of
the 39 periods showed a gain the next day).

Again, history says that we’re due
for a bounce soon.