|Daily||# of Stocks Up >4% on high volume||237|
|Daily||# of stocks down >4% on high volume||584|
|Primary||# of stocks up >25% in a quarter||3070|
|Primary||# of stocks down >25% in a quarter||296|
|Secondary||#of stocks up >50% in a month||133|
|Secondary||#of stocks down >50% in a month||3|
|Secondary||#of stocks up >25% in a month||551|
|Secondary||#of stocks down >25% in a month||20|
|Primary fast||MM 34/13 +||2949|
|Primary Fast||MM 34/13 -||600|
- 584 stocks were down 4% plus on high volume.
- That is a minor scratch on the bulls back.
- This was mild action and not a very broad based selling. You would have seen numbers around 1000 plus for a serious correction.
- So the task is cut out for the dip buyers.
- Most likely scenario is attempt at rally from these levels.
- Action in the Episodic Pivots continue to show junk still has buyers.
- Sector rotation was in play with medical and health care stocks breaking out. So this market has more legs as of now.
- After a few days of attempted rally we might see another shakeout move.
- A strong breadth like we have currently is not going to turn with just one 584 negative day.
- I will continue to focus on EP and good breakouts from IBD100/200 and Double Trouble and Modified Double Trouble.
- I expect Double Trouble to be best performing method here onwards. It will continue to give many more opportunities for next 1 to 2 months.