We have gone in to a correction/pullback phase in the market | stockbee

5/26/2009

We have gone in to a correction/pullback phase in the market

 Market Monitor  
 
   
TypeIndicatorValue
Daily# of Stocks Up >4% on high volume112
Daily# of stocks down >4% on high volume  84
Primary# of stocks up >25% in a quarter3087
Primary# of stocks down >25% in a quarter 409
Secondary#of stocks up >50% in a month34
Secondary#of stocks down >50% in a month1
Secondary#of stocks up >25% in a month230
Secondary#of stocks down >25% in a month48
Primary fast  MM 34/13 + 2409
Primary Fast  MM 34/13 - 1278

 
  • The best part of the bullish move was from March 10 th to May 6th. That period was the most profitable period. During that period breakouts and EP had immediate follow through.
  • Since 6th May we have seen number of negative days an d ratio of negative days to positive days is 50:50.
  • We have gone in to a correction/pullback phase in the market. 
  • The correction at this stage looks orderly and most stocks which made a big move are having a orderly pullbacks.
  • The correction is not getting reflected in the primary indicator.
  • Primary indicator at 3087/409 currently shows that the breadth is overwhelmingly positive.
  • But because the market is not making upside progress b/o do not necessarily follow through. 

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