Taking our trusty intermediate-term oversold signal a step further.

In early April, “Whooshes can become ramps” noted how our trusty 14-week stochastic indicator for the S&P 500 (SPX) index hit a level that identified the close proximity to an intermediate-term low in a non-recession environment. Each week, we take this indicator a step further, by looking at the overbought / oversold level for each individual component of the S&P 100 Index (OEX).

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