Extreme Selling Event May Nearly Be Over.

This chart shows how the extreme selling over the past few weeks has deleveraged/revalued the US/Global stock markets to near extreme lows.

Historically, once this indicator falls below 25, the markets appear to be near extreme capitulation of any selling event.

Obviously, extreme market trends could push this level below 25 for longer periods of time, but this is getting fairly over-extended in terms of selling after a moderate Fed rate increase and a moderate consumer pullback.

Follow my research. My longer-term models are STILL BULLISH.

Watch Crude Oil. A big breakdown in Crude would coincide with the end of a price decline - representing a devaluation of overvalued energy costs.

Pay attention.