The 50 Leaders statistics were not as dire as I thought they might be. The Stocks above the 10-Day Moving Average is still above the overbought level.

New Highs were Zero

New Lows registered just ONE. Worley Parsonas was the culprit after giving a negative outlook. I thought that with today's downward moving in the general market we might have seen a few more New Lows. However, this just goes to show how strong the recent run-up has been.

Some further downward movement needs to occur to work off the overbought levels - but that seems to be quite close in terms of time.

The Stocks above the 50-Day MA is still overbought - but in a bull market that is not unusual.

Tomorrow will probably be positive with some further negative movement after that - but not much.

This just could be a buying opportunity.

Keep watching the indicators.

Cheers

Red