We've seen the market indexes nearly fall off a cliff this past week ending 7.29.11, which raises the question; are they oversold? If we look at them from a positive divergence perspective there may be one beginning to show between the Accum/Dist to PPS and the IWM shows it more clearly than the QQQ, SPY, or DIA. They each follow closely otherwise and it is not easy to catch a potential reversal developing by more than a day or so.
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