S&P/Russell Recent Low Could See Retest By Helene Meisler About this article: I thought Tuesday's action was pretty typical of a market that is heading toward an overbought reading. I have discussed how some of our corrections go sideways at the highs and then give way with a sizeable downside day toward the end just as we're reaching an oversold reading. Much can be said for the last two overbought readings as well. You have to realize, even if you're bullish, that the last two oversold readings have led to rallies that lasted two weeks, not long extended ones such as we had gotten used to. The routine for these overbought readings has been sideways action with a decent decline at the end, but perhaps we're seeing a bit of the inverse on the oversold readings now. For nearly a week we pushed and pulled along the bottom of the range. I even feared we might be using up the... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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