Here are few things I am noticing currently:
Sector rotation New sectors and stocks are emerging to take on leadership. Which often is a sign of healthy up move.
Metals Stock Metals stocks are finding a bid and some like steel have started rallying from bottom of their range.
Retail Some retail stocks are consolidating after good run and some like the sports retailers are finding fresh bids.
Speculative sectors like semi conductor, technology and biotechs are finding bids.
One of my key database scan of stocks making more than 25% or more move in a quarter from a low point is showing 1097 up movers to 277 down movers. So market may have correction, but the momentum generated so far will not die down in a snap. I don't know whether it is suckers rally as bears claim it to be, but any rally which makes me money is good rally as far as I am concerned. I am finding no shortage of profitable opportunities so far. I don't mind being a sucker as long as I am a profitable sucker.
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