Market was weak as anticipated and now another ST oversold signal.

From last post there was a short term oversold buy signal and I cautioned that this time due to weakness in the stock market in general compared to the indexes (what is called negative divergence) I anticipated further weakness to the downside whether or not the stock market rallied. Right now most of the major indexes along with stock market gave back all and more of the brief rally that occurred last week. Only the SP500 and the Dow had held up better. Which now leads us to another short term oversold signal and again I do not anticipate much more than a week or so of upside. But looking at the medium term signals they are now getting close to between 'neutral' and 'buy'. The stock market could rally off this medium term signal or could continue to pause and struggle for a few weeks to reach a lower level to generate a medium term oversold buy signal. For now continue to use caution or just stay out for the time being.