The Nasdaq had a more low key week with lighter volume and no test of resistance. The MACD is already net positive but like the S&P, stochastics are deeply oversold.
With the exception of the Percentage of S&P Stocks above the 50-day MA none of the breadth indicators made it to oversold conditions before bouncing. Not sure what this means for these indicators (and therefore the market as a whole) but it feels like this bounce has come a little too soon - not that this will worry bulls...
Is there a retest to come?
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website