Some improvement in breadth | stockbee


Some improvement in breadth

The big drop in August is now few weeks old and  during that drop breadth reached extremely negative territory. You can see that in Number of stocks up 25% in a quarter, those readings reached a low of 179 on 24th August. Readings below 200 are rare and indicate extreme bearishness.

Sine then there has not been any sustained big selling . Many stocks have bounced back on weak action.  For a new trend to establish a big and sustained buying pressure is needed. Absent that   we might get volatile range bound action. 

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