Moving Off Extreme Oversold Readings

It wasn’t a bad Friday but not the strong close to the week I was looking for. Miners are telling me metals will bounce in the week to come along with lots of other stocks after a week of rest and a small correction.

We remain at extremely oversold levels even though we hardly fell in the greater scheme of things.

That means a nice move higher shortly but we do have a Fed meeting with a likely rate hike to come mid-week so that may increase volatility.

Time will tell.

A solid turn higher off the 21 day (which is great) seems to foretell new all-time highs in the week or so to come.

Good stuff!