A correction after a big up move | stockbee

5/14/2009

A correction after a big up move

The market had run up a lot in few months and so a correction was overdue. We are getting one here. This was not a big surprise, the Market Monitor was indicating this for sometime

TypeIndicatorValue
Daily# of Stocks Up >4% on high volume30
Daily# of stocks down >4% on high volume  1168
Primary# of stocks up >25% in a quarter2966
Primary# of stocks down >25% in a quarter 458
Secondary#of stocks up >50% in a month34
Secondary#of stocks down >50% in a month3
Secondary#of stocks up >25% in a month202
Secondary#of stocks down >25% in a month36
Primary fast  MM 34/13 + 2511
Primary Fast  MM 34/13 - 1558

If you compare the current readings to those in my earlier post, you would see slowly the breadth is coming to normal from abnormal levels.

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