I like to see minimum 30 or if possible 20. We are not far away from it and once we hit those levels we can check next if SPX is near pivot numbers or retracement targets.
Percentage of Stocks above 200 DMA should be at 70 or a bit lower to hint a potential bottom
SPX Percentage of Stocks above 50/200 DMA
We are near the March oversold levels (Stocks above 50 DMA) and below March levels ( Stocks above 200 DMA). This makes me believe that the correction will be larger compared to Feb11-March11. Time wise we already succeeded the last correction. It reminds me of the pattern in April - June 2010.
NYSE Summation is pointing towards -400 and lower.
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