Painful enough for a bounce?

Mid-week market update: After this week's brutal sell-offs, the stock market is oversold enough for a bounce. The VIX Index has risen above its upper Bollinger Band, which is an oversold market condition and short-term buy signal.

If the market action in the past year is any guide, the potential for the S&P 500 is the 4720-4750 zone.

The full post can be found here.