- In the last 21 days market has formed a range. The heavy selling which preceded the range has subsided. However selective selling in sectors continues.
- At current stage as market was in downtrend mean reversion kind of moves are dominating and trading methods based on that are working.
- Momentum based methods have low success rate currently.
- Economic reports and news are primary drivers of overall market direction. Stock specific news like earnings and guidance have had low success rate on bullish side currently.
- Today the news of Chinese stimulus package will be the dominant theme.
11/10/2008
A 21 day range
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