
Market breadth indicators also haven't indicated a bottom; the summation indices have the most room to fall - the Nasdaq is given as an example:

But also breadth indicators like the percentage of stocks above the 50-day MA are not yet oversold.

The week's gains were good, but a bottom is not a slam dunk.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website