Market Monitor: Bearish
* The market continues to be volatile and rallies are still finding it difficult to break out of range.
* However the intense selling pressure phase is over. Market Monitor readings have shown steady improvements.
* Most probably we are putting in a bottom. Market may not immediately start rallying, but most of the weakness is behind us.
* The McClellan Summation Index is also confirming the same.
* The worst is most probably behind us.