Intraday Update – 1-Day Oversold Internals Being Worked Off

12:44 p.m. ET As discussed yesterday, sharp 1-day oversold internals can alleviate oversold conditions through price (a correction/bounce) or through time (a consolidation) and given the price action of recent, I’ve leaned toward a higher probability of a consolidation. I also lean toward that being a bearish consolidation given recent price action, and the extent…