China can not save the markets

A weak bounce yesterday was aggressively sold today. The rumor of Chinese stimulus package was just a rumor. It was a 1000 plus day on Market Monitor, indicating extreme selling pressure. 

Only sector which might be buy is gold as those stocks are best bought on pullback.

Unless the banking sector bounces back, chances of a bounce sticking are low.

Top sectors currently  are :

• MG113,Agricultural Chemicals
• MG132,Copper
• MG135,Gold
• MG732,Discount - Variety Stores
• MG738,Auto Parts Stores
• MG741,Sporting Goods Stores
• MG745,Auto Dealerships
• MG821,Multimedia & Graphics Software
• MG834,Semiconductor-Integrated Cir
• MG850,-Internet-
• MG852,Internet Information Providers

Bottom sectors currently are: 

•  MG313,Housewares & Accessories
• MG328,Office Supplies
• MG425,Credit Services
• MG431,Life Insurance
• MG444,Reit-Hotel/Motel
• MG447,Reit-Retail
• MG523,Health Care Plans
• MG629,Textile Manufacturing
• MG633,Lumber / Wood Production
• MG712,Resorts & Casinos
• MG771,Major Airlines

Stocks within lcosing distance of 52 weeks currently are:

AIPC

AZO

CVTX

CYCL

DLTR

EGO

FDO

IAG

IDEV

INSM

IWOV

MIN

MYGN

NFLX

OCN

ORLY

PSD

STAR

TEVA

TNDM