THE BIG STRETCH

Markets rallied big off the bottom yesterday but are still way oversold- how much - well the QQQQ is about 20% below its 50 SMA and the SPX is about 15% below- that is quite far down considering it is highly unusual to be 10% below.

And the VIX at levels rarely if ever seen- so probably not a great time to capitulate.

The Quant with his off the chart stuff;

Bill Gross on what to do next;

How bout this as a Contrary indicator;

Mike with the capitulation;

Last note- the visitors to this site yesterday the most in years.