Follow through has been lacking | stockbee

8/06/2008

Follow through has been lacking

  • Market continues to churn at this level. For last 10-12 days market had big move days, but they have had no follow through and as a result most indices are at more or less same level.
  • Sector leadership has changed and new sectors are now emerging. Some of them like medical sector are sectors which do well during defensive periods.
  • The lack of follow through and lack of aggressive buying pressure so far characterizes this market . Breakouts have had immediate corrections post breakouts and follow through on many has been a problem.
  • Only thing working is earnings breakouts on intra-day basis. ATHN and RMG are good example of that yesterday.

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