- No follow through on selling.
- A light rebound as new sectors started rallying.
- Gold was the major theme today.
- Dip buyers were active in many stocks.
Market monitor is market breadth
based market timing tool
Market is in correction.
|Daily||# of stocks up >4% on high volume||148||19 stocks with 100 million plus dollar volume.(M$V)|
Gold : abx gg nem aem auy kgc gold gfi slw
That is lot of money flowing in gold sector
Health insurance: UNH and HUM
|Daily||# of stocks down>4% on high volume||81||No follow through selling.|
5 stocks with 100 million plus M$V
|Primary||# of stocks up >25% in a quarter||1531|
|Primary||# of stocks down>25% in a quarter||383|
|Secondary||# of stocks up> 50% in a month||7|
|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||46||Rapid deterioration in this.|
Highest readings was 875 in last 20 days.
|Secondary||# of stocks down>25% in a month||52||.|
|# of stocks up>13% in 34 days||1460||This will be the first ratio to turn negative in correction.|
|# of stocks down>13% in 34 days||1095|
|MMA+||% of stocks in confirmed uptrend||52||Rapid drop from 71 to 52|
|MMA-||% of stocks in confirmed downtrend||17|
|#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.