Market monitor is market breadth
based market timing tool
Market is in correction.
|Daily||# of stocks up >4% on high volume||58||1 stocks with 100 million plus dollar volume.(M$V)|
|Daily||# of stocks down>4% on high volume||635||Finally a 500 plus day.|
The dollar volume 100 million plus b/o had 77 stock today.
Bulk of them are financial stocks.
Leaders have started to breakdown.
more positions if weakness develops.
The first phase of fast selling in any weakness
can be harmful to open position.
We saw that today.
Once that passes, one can get back in.
Stocks which are resisting the corrections
are worth keeping an eye on.
|Primary||# of stocks up >25% in a quarter||1561|
|Primary||# of stocks down>25% in a quarter||396|
|Secondary||# of stocks up> 50% in a month||5||At this rate we will be bullish on this in days. Reading below|
|Secondary||# of stocks down>50% in a month||0||In ideal scenario you would want this to climb to 20 so that|
you can then expect a counter trend bounce.
|Secondary||# of stocks up>25% in a month||56||Rapid deterioration in this.|
Highest readings was 875 in last 20 days.
|Secondary||# of stocks down>25% in a month||62||.|
|# of stocks up>13% in 34 days||1509||This will be the first ratio to turn negative in correction.|
|# of stocks down>13% in 34 days||1047|
|MMA+||% of stocks in confirmed uptrend||58|
|MMA-||% of stocks in confirmed downtrend||16|
|#of stocks up> 4% in last 10 days/|
#of stocks down>4% in last 10 days
A reading of below 0.5 on this will confirm bearish trend.