Second Dominant P/V Tonight

Honestly this works pretty good for short term overbought/oversold, for a bit today before the Israeli airstrike it looked like the market might just find some legs.

In any case, again tonight (this isn't that common) we have the same Dominant Price/Volume Relationship, except today it's even stronger. The P/V today is the same as yesterday, Price Down and Volume Up. As a reminder this isn't what the average itself closed as, this is how the component stocks in the average closed; 6 of the major averages, all dominant.

Dow-30

Not only is the P/V relationship oversold, the count of advancers/decliners is about as oversold as you get in the Dow-29 of 30 stocks down, only CSCO was in the green after good earnings!

All NYSE Stocks

Russell 2000

Russell 3000

S&P-500