7/26/2012

Breadth deterioration

There has been a steady deterioration in breadth in last 14 days. 10 out of last 14 days had negative breadth on our Market Monitor.


As you can see the market has had trouble from 6th July onward in putting together a back to back sustained rally.

While the breadth has been negative, it has also not been very negative. We are not witnessing big sell pressure. There are no 300 plus days to the downside. This has been the character of this market for sometime. Weak buy and sell pressure is indicative of range.



The market has recovered from the 10% correction it had from April to June. But has had trouble putting a rally together.





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