stockbee: Extreme readings on breadth

10/31/2011

Extreme readings on breadth

In 19 days the market has witnessed heavy buying. As a result most stocks have gone up in last 19 days. The secondary indicators on Stockbee Market Monitor are at extreme level. Such extreme readings indicate probability of pullback/consolidation in next 4 to 5 days.

However individual stocks will continue to breakout and most likely we will see money rotating in to stocks near 52 week high.

DECK (Deckers Outdoor Corp) is an example of kind of breakout that are happening near high.

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