Shown below is one of the indicators used for the analysis of the PAS SETUP.
This weekly indicator help to spot the intermediate buy point on the S&P500, it is constructed with the week’s most active stocks.
It is basically an overbought/oversold index but it takes also into account of the 9-week cycle.
Very good buy point are clearly annunced when this indicator falls below of -25 or more:
Two weeks ago the indicator fell below -25, it could be an intermediate buy point: