I hadn’t really noticed until this morning that we in fact did get to oversold on the Zweig Breadth Thrust, at least on my implementation. Oversold is defined as a reading of less than 40 and last Friday we closed at 39.99. That is about as close as you can get.
Now we have 10 trading days to get to overbought which is at 61.50. An oversold to overbought in ten days or less is a breadth thrust on the indicator and acts like a starting gun for a bullish move over the next 9 months.