Market Monitor= Bearish
- Another day with 500 plus stocks down 4% plus.
- With series of 300 plus days in last 15 days, we still are not at extreme levels on most indicators.
- Only 11 stocks are down 50% plus so far.
- The only indicator reaching near bullish level is the # of stocks up >100% in 260days
- In a typical bear market pattern we see green open which gets sold.
- With lot of selling in last 3 session if we open lower day and continue lower, we may reach a short term capitulation stage. Which does not seem to be happening, going by the likely up open today.