Price is putting in a near-term “capitulation-like” move to the downside, stretching a variety of oversold metrics to extremes in the process of breaking the 50-dma. I’d like to buy in at some point, but am waiting for relative volume (see rising dashed white line) to come out of the move indicating a better potential for an end-of-trend, as confirmed by a higher low and a VIX hook. On the other hand, the door is obviously open to the March lows.
