Selling continues but at slower speed | stockbee

6/21/2011

Selling continues but at slower speed


Three days have been stabilizing days for market. Selling continues but at slower speed. As of now we are not witnessing any breadth thrust . market is in confirmed bearish mode.

However series of 300 plus days to upside will change the picture. The near term catalyst for such turnaround is upcoming earnings.
One good thing about this correction is it is of longer duration than previous corrections. That is leading to many stocks forming longer duration bases from which they can breakout to either side. 
During the day we will look at some of the stocks setting up for possible upside and some stocks setting up for possible downside.

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