chart: % of DJIA stocks above 10DMA

Courtesy of IndexIndicators.com

Note where we are again as highlighted in yellow.
Some kind of a bounce will try to work off this oversold condition.   The short term cycles are suggesting a low this week and then a bis up into Dec 29th to Jan 14th time frame.  As we get closer to this period more information will hopefully become available.

The short term cycles suggesting a possible move up into January would be concurrent with the intermediate term cycles suggesting a high sometime in January.  If these two cycles do in fact turn out to be working in conjunction with one another and the stock market does move higher into the January time frame then there would be more evidence that a high is forming and a low could develop a few months later around mid year +/-.

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This has been posted for Educational Purposes Only.   Do your own work and consult with Professionals before making any investment decisions.  
Past performance is not indicative of future results