Market Monitor
January 9, 2008
Market Monitor: Bearish
- Selling pressure was intense after the morning bounce failed
- Recent leaders are under pressure and one by one they are breaking down
- New sector leadership is emerging. It is mostly defensive sectors
- More selling will lead to washout and attempt at another bounce.
- Reflex bounce is very strong probability
- Currently in reversal anticipation mode. Looking for follow through day or MM signal
- Medical
- Energy
The selling will probably stop before earnings season and if bearish phase has to follow on, it will happen post earnings.
Fascinating insight of the sectors. I have looked at sector rotation, but never looked at historical sector performance. Thanks!
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