The worst is behind us | stockbee


The worst is behind us

Market Monitor: Bearish

* The market continues to be volatile and rallies are still finding it difficult to break out of range.
* However the intense selling pressure phase is over. Market Monitor readings have shown steady improvements.
* Most probably we are putting in a bottom. Market may not immediately start rallying, but most of the weakness is behind us.
* The McClellan Summation Index is also confirming the same.
* The worst is most probably behind us.


Celal Birader said...

Is the worst really behind us ?Under these market conditions, wouldn't any kind of rally be a 'sucker's rally' ?

Mac said...

Just curious what time frame you're looking at Pradeep? Anything is possible, but I can't see another bull starting here. A moderate rally - yes, maybe I can see that. It seems like there are too few new leaders and nice charts to set off a major run. We haven't gone down enough or for long enough a period of time to have a huge bull run where money is easy to make. Just my opinion. What do you think?

Pradeep Bonde said...

My indicators are all showing strength since last one week. New leadership is emerging and if you look at the breakout list in last 2-3 weeks, there is new blood on the move.

Celal Birader said...

Pradeep .. I think your investing time frame is much shorter than mine (intraday only?). I don't know; but, heck i've made money from your advice (i.e sold short on solar stocks back in Jan and made a tidy profit--thks!) and that's why i've subscribed to your service. Take care and keep up the good work.

fit and flexin said...

IBD said confirmed rally too, but we need a follow through, doesn't look like we're going to get it today

Barry Ritholtz said...