At extreme medium term oversold, expecting this week is THE bottom.

From last post, the SP500 dropped another 5% before hitting 'A' bottom. But the rally up was only back to the level when I wrote the post. The global fears of the oil plunge and of the China slowdown sent the global stock markets in heavy selling since the beginning of the year. Looking at charts of the major indexes and technical indicators, there are hints of a bullish double bottom patterns developing and positive divergences. I believe 'THE' bottom is in this week for the global stock markets or at least a 10% rally from here.