For those Bears out there, keep an eye on the Oversold level and the trend on the weekly chart. Certainly this looks bearish on daily. But can have a severe snap back when the sellers are satisfied. There will be more down side before this snapback happens. A trend reversal without a transition period is just impossible. No matter how worst the market gets. That's Just My Opinion.
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"A trend reversal without a transition period is just impossible.No matter how worst the market gets. " well said!