The stock market may be gearing up for a relief rally after key signals hit oversold extremes

• The stock market is gearing up for a relief rally after a brutal sell-off, according to Fairlead Strategies' Katie Stockton.
• Stockton highlighted that 5 internal stock market indicators just hit oversold extremes.
• "After [Tuesday's] emotional trading we think we are one step closer to a short-term low," Stockton said.

The stock market is gearing up for a relief rally after an interest rate-driven decline that sent the S&P 500 lower by 8% over the past two months.