The Nasdaq is as oversold as it has been since mid-May and could be making another move up now.
The Nasdaq Composite is back at the parallel 1×1 angle while volume was relatively higher today versus yesterday but below the recent average. Keep in mind that the rally off the March low is nearing 180 days. I do not expect a significant move higher before this move runs out of gas.
Charts courtesy of Stockcharts.com
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