Market Monitor

• It was yet another volatile session, which ended on positive note.
• Market seems to be attempting to stabilize here. Such interim periods can provide good opportunities for swing traders. They also help set up good shorts.
• However overall the market continues to offer little for longer term traders and momentum based traders.
• If you go through the Market Monitor, I have color coded days for both 4% plus and 65 days during my free time. You will notice rallies have strings of green colored days with 4% down movers seldom exceeding 60 levels. Currently the down movers are still dominating.
• If market puts together 3-4 days of green action with 4% breakouts in excess of 200, then it might indicate end of the rapid selling phase.
• With a definite change in character and 65 days ratio still in bearish territory, I see no reason to be aggressive here on long side. There is high probability that the 4-5 days bounce here will fail and lead to more downside.