Market Monitor

• Market character has changed with early strength being sold and dip buyers not in position to break above morning high.
• If you see the components of 4% plus breakouts, in last few days most are stocks at or near their 52 week lows. This often hints at trouble.
• The other possible sign of trouble is junk stocks below 5 are finding bids in large number in last couple of days.
• Month end effect should still keep a bid in market. But as pre mature bears learned today, shorting requires waiting for perfect spot. Lot of bears were excited when morning strength reversed but the dip buyers were active and the later half action looked like a bit of old fashioned panic covering by some shorts.
  
• Trading volume should start dropping as the weather becomes more tempting than the market.