U.S. Equities Jump as Oversold Stocks Reach Extremes: Chart
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U.S. stocks are higher today after hitting technical levels seen only three times in the past eight years.
The percentage of oversold Russell 3000 stocks reached levels similar to August 2015, August 2011 and October 2008, according to Bloomberg data. In the Russell 3000, 44% of stocks in the index had a 14-day relative strength index reading below 30 as of yesterday.