| On Friday, March 6 the US jobs report hit the wires. Equities were trading higher in premarket as we'd seen a strong selloff in the previous session followed by an equally strong high-volume rally. No one was expecting the massive selloff that was about to hit the stock market when the good jobs numbers were posted.
Later that day after 6 1/2 hours of heavy volume selling in the stock market, the closing bell rang. The big selloff pulled most stocks and commodities into an extremely oversold market condition. Traders were waiting all day for some type of bottom to be put in place so they could reenter a long position and day trade the rebound...............................................Full Article: Source
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