1/ We got a serious spike in new lows today, over 1100 as of right now. The market is technically oversold here and ripe for a rebound. However, the wiser amongst us should remember that in downtrends, oversold can get a whole lot more oversold. $SPY 
2/ Asian markets, as well as other #EmergingMarkets, have not made new lows here. They are still above their October 2018 lows.
This could be a positive sign, a least for a short-term rebound. $ASHR $AAXJ $EEM
This could be a positive sign, a least for a short-term rebound. $ASHR $AAXJ $EEM
3/ Adding to post no.1 posted by @sentimentrader:
"Out of 8,715 trading days since 1984, today is showing the 9th-most percentage of 52-week lows combined on the NYSE and Nasdaq exchanges.
The other 8 were all in October 1987 and October/November 2008."
"Out of 8,715 trading days since 1984, today is showing the 9th-most percentage of 52-week lows combined on the NYSE and Nasdaq exchanges.
The other 8 were all in October 1987 and October/November 2008."
4/ Furthermore, Chinese equities are basing here. They aren't reacting to bad news the way US equities is. They led global stocks on the downside, with the US playing catch up, but now they could be one of the first to bottom out and have a relief rally. $ASHR
5/ All in all a very oversold stock market with a change of leadership from Asia leading on the downside, to the US playing catch up as Asia bases. During bear markets, vicious short covering rallies from oversold conditions do occur — and there is evidence to expect one soon.
