Here we are, back at the recent lows. Oddly enough, a lot of people seem to be hoping for a break of the lows so they can buy them Monday morning. I can make a case for a rally in here: The markets are oversold, the number of stocks making new lows didn't expand Friday, and the put/call ratio is zooming higher. On the New York Stock Exchange, I could even argue that the cumulative advance/decline line hasn't made a new low yet. On the Nasdaq, the oscillator is exactly where it was last week, despite the lower low in the average. That gives us some positive divergences.