Vic Scherer on Oversold

The analysts will soon come out of the woodwork talking about the market being oversold. Here's what Vic Scherer, correctly, has to say about that:

"Oversold" is mitigated only by buyers showing up. YOU can't put a price or a date on it in advance. Get over it!...

Oversold is not "OVERSOLD" until the buyers show up. Follow your stats, moving averages, std devs, fibs, Gann, TD, or whatever. Observe & react.