Oversold CCT rally

Yesterday finally brought the oversold relief rally that my daily CCT has been indicating would happen. The daily CCT had 42 instances of a plus 1000 tick or greater with 1449 (TS) for the high tick. This was a very strong move with good volume indicating that the institutions were big players. The daily now stands at -240 which is still technically oversold. We did make a higher high overnight and are right at the 20 day moving average. All of the block buying from the institutions yesterday should create some momentum in this market so we should see additional strength today and perhaps several trading days barring any unforeseen bad news.