On February 27th we had a correction of some magnitude. The circumstances were vastly different. Look at these numbers below from that day. Look at the 65 days ratio.
Total 4% plus bullish breakouts=24
Total 4% plus bearish breakouts=1404
65 day bullish/bearish ratio= 656/281
Stocks up 50% or more in a month=8
Stocks up 25% or more in a month=65
Number of stocks with 100% plus move =294
Number of stocks up 200% or more = 69
4% plus signals for 100plus universe=2
4% plus signals for 200plus universe=1
You will notice the 65 days ratio has deteriorated a lot during this correction and reversed. Which makes this different. In the past such ratio reversals have signaled 10 to 15% down moves. That does not mean this thing will develop same way, but the 1404 correction had panic written all over it. While this had enthusiastic dip buyers. So may be this might have more shakeout to get the dip buyers scared.