A 21 day range | stockbee


A 21 day range

  • In the last 21 days market has formed a range. The heavy selling which preceded the range has subsided. However selective selling in sectors continues.
  • At current stage as market was in downtrend mean reversion kind of moves are dominating and trading methods based on that are working.
  • Momentum based methods have low success rate currently.
  • Economic reports and news are primary drivers of overall market direction. Stock specific news like earnings and guidance have had low success rate on bullish side currently.
  • Today the news of Chinese stimulus package will be the dominant theme.

No comments: