Indicator review time!

Three indicators which confirmed the intermediate term bottom.

1. The DOW transport didn't confirm the downside to the DOW industrials. It held it's Jan lows. This strength has to be respected.






2. The VIX was 20% above it's 10 day SMA, indicating an oversold market due for a bounce.

3. Philly SOX starting outperforming S&P 500, indicating a selling washout.

There are other well documentated indicators, like advisor equity exposure recommendtion, CBOE put/call ratio which were also at multi-year low levels.