The Market Throws Us a Curve Ball Let's check under the hood for the interesting twist that occurred late last week, the short-term overbought/oversold readings, sentiment and more on the indicators. Apr 19, 2021 | 06:00 AM EDT An interesting twist occurred in the market last week. The short-term overbought reading for Nasdaq, which is based on the advance/decline line, went from overbought to (almost) oversold. That is how crummy Nasdaq breadth was last week. Six of the last 10 trading days have seen Nasdaq breadth negative. The same is true of net volume for Nasdaq: Six of the last 10 trading days have seen more downside than upside volume. Yet in the last 10 trading days, Nasdaq has managed to tack on 4%. Oh, sure, most of it came two weeks ago since last week Nasdaq only managed to eke out 1% (barely) for the week. But that's the weakness under the hood.