Technical indicators are showing that stocks are oversold short-term, but the market still continues to fall.
On Thursday, the S&P 500 index closed down 7.31 percent from its recent high in September and is 87.28 points away from testing its low for the year of 1266.04 in June.
While oversold conditions don't mean the indexes can't go lower, we looked at broader market sentiment to see if there will be any temporary relief for the markets from recent downslide.