Extremely oversold, but no sign of a bottom yet. One of my oversold indicators for the broad market is currently at 0. When it reaches 0, there is almost always a bounce during the next day or the day after. The only time it failed was during the crash of 08.

Regarding Iran, it's starting to look like an attack may be in the works - just in time to stir up the patriotic juices before the mid-term elections. Maybe they should take back Obama's peace prize.