Highlights

• Last week brought considerable movement across both the market and our Risk Gauges as equities broadly sold off, leading the short-term (ST) gauge to downtick three levels intraweek.
• Due to the market’s oversold condition, we find it likely that a rally will develop, though meaningful repair will be needed to avoid another overbought Mixed environment.
• Until then, we are searching for ideas in areas that showed relative strength last week, such as Healthcare.

"Short Term Gauge Downticks to 6."