Recent trading indicators show that the NYSE Composite Index is experiencing extreme oversold conditions, comparable to those seen during the COVID-19 market crash. The 5-period Relative Strength Index (RSI) has reached a low of 2.86, while the NYSE McClellan Oscillator (NYMO) recorded a reading of -106, marking the lowest level of 2024 and nearly matching the February 2023 reading. Analysts note that the current breadth correction has persisted for several weeks, and historically, similar oversold conditions during bull markets have led to substantial rebound rallies in stock prices.