New leadership is emerging

October was a eventful month. Market took a big dive and then had partial recovery by end of the month. There were two big one day rallies, both times they appeared once panic reached extreme. The Market Monitor signaled a turn on Thursday the 9th of October.Since then the lows of that day have held and we have been up 10 to 15% since that lows.
New sector leadership is emerging and number of stocks have set themselves up for a possible rally.

Sectors Ranked By Six Month Relative Strength

At the individual stock levels the top 100 stocks ranked by relative strength are breaking out at this stage besides the bounces from oversold levels.

Top Stocks by Relative Strength

AAI,Airtran Hldg (Google Yahoo Earnings Chart)
ADY,American Dairy Inc (Google Yahoo Earnings Chart)
AFAM,Almost Family Inc (Google Yahoo Earnings Chart)
ALGT,Allegiant Travel Co (Google Yahoo Earnings Chart)
ALK,Alaska Air Group Inc (Google Yahoo Earnings Chart)
AMR,Amr Corporation (Google Yahoo Earnings Chart)
ANCI,American CareSource Holdings Inc. (Google Yahoo Earnings Chart)
APOL,Apollo Group Inc Cl A (Google Yahoo Earnings Chart)
APSG,Applied Signal Tech Inc (Google Yahoo Earnings Chart)
ASTM,Aastrom Biosciences Inc (Google Yahoo Earnings Chart)
AVAV,Aerovironment Inc (Google Yahoo Earnings Chart)
BBT,Bb&T Corp (Google Yahoo Earnings Chart)
BRL,Barr Laboratories Inc (Google Yahoo Earnings Chart)
BTFG,Banctrust Financial Group Inc (Google Yahoo Earnings Chart)
CACB,Cascade Bancorp (Google Yahoo Earnings Chart)
CAL,Continental Airlines B (Google Yahoo Earnings Chart)
CASY,Casey's General Stores (Google Yahoo Earnings Chart)
CATY,Cathay General Bancorp (Google Yahoo Earnings Chart)
CBST,Cubist Pharmaceuticals (Google Yahoo Earnings Chart)
CIA,Citizens Inc (Google Yahoo Earnings Chart)
COBZ,Cobiz Ixstorm.com Inc New (Google Yahoo Earnings Chart)
COMS,3Com Corp (Google Yahoo Earnings Chart)
CPF,Central Pacific Finl Corp (Google Yahoo Earnings Chart)
CPSI,Computer Programs & Systems (Google Yahoo Earnings Chart)
CRD.B,Crawford & Co B (Google Yahoo Earnings Chart)
CRI,Carter Holdings Inc (Google Yahoo Earnings Chart)
CSFL,Centerstate Banks Of Florida (Google Yahoo Earnings Chart)
CVBF,Cvb Financial Corp (Google Yahoo Earnings Chart)
DAL,Delta Air Lines Inc (Google Yahoo Earnings Chart)
DMND,Diamond Foods Inc (Google Yahoo Earnings Chart)
EBS,Emergent BioSolutions Inc (Google Yahoo Earnings Chart)
EMS,Emergency Medical Services L.P. (Google Yahoo Earnings Chart)
ENSG,Ensign Group (Google Yahoo Earnings Chart)
EWBC,East West Bancorp Inc (Google Yahoo Earnings Chart)
FDO,Family Dollar Stores Inc (Google Yahoo Earnings Chart)
FFIN,First Financial Bankshrs (Google Yahoo Earnings Chart)
FHN,First Horizon Natl (Google Yahoo Earnings Chart)
FIZZ,National Beverage Corp (Google Yahoo Earnings Chart)
FMER,Firstmerit Corp (Google Yahoo Earnings Chart)
GTIV,Gentiva Health Svcs (Google Yahoo Earnings Chart)
HBAN,Huntington Bancshares (Google Yahoo Earnings Chart)
ICUI,Icu Medical Inc (Google Yahoo Earnings Chart)
ISYS,Integral Systems Inc (Google Yahoo Earnings Chart)
JBLU,Jetblue Airways Corp (Google Yahoo Earnings Chart)
LCC,US Airways Group Inc (Google Yahoo Earnings Chart)
LG,Laclede Gas Co (Google Yahoo Earnings Chart)
LHCG,LHC Group (Google Yahoo Earnings Chart)
LPHI,Life Partners Inc (Google Yahoo Earnings Chart)
MNKD,Mannkind Corp (Google Yahoo Earnings Chart)
MNRO,Monro Muffler Brake Inc (Google Yahoo Earnings Chart)
NDN,99 Cents Only Stores (Google Yahoo Earnings Chart)
NKTR,Nektar Therapeutics (Google Yahoo Earnings Chart)
NL,Nl Industries Inc (Google Yahoo Earnings Chart)
NNI,Nelnet Inc (Google Yahoo Earnings Chart)
NPSP,Nps Pharmaceuticals Inc (Google Yahoo Earnings Chart)
OPNT,Opnet Technologies Inc (Google Yahoo Earnings Chart)
OZRK,Bank Of The Ozarks Inc (Google Yahoo Earnings Chart)
PBKS,Provident Bankshares Cp (Google Yahoo Earnings Chart)
PCBC,Pacific Capital Bancorp (Google Yahoo Earnings Chart)
PETS,PetMed Express Inc (Google Yahoo Earnings Chart)
PGC,Peapack-Gladstone Fnl (Google Yahoo Earnings Chart)
PNY,Piedmont Natrl Gas Inc (Google Yahoo Earnings Chart)
PTRY,Pantry Inc (Google Yahoo Earnings Chart)
QCOR,Questcor Pharmaceuticals (Google Yahoo Earnings Chart)
RJET,Republic Airways (Google Yahoo Earnings Chart)
RXII,RXi Pharmaceuticals Corporation (Google Yahoo Earnings Chart)
SHEN,Shenandoah Telecomm (Google Yahoo Earnings Chart)
SLXP,Salix Pharmaceuticals Ltd (Google Yahoo Earnings Chart)
SPTN,Spartan Stores Inc (Google Yahoo Earnings Chart)
STEM,Stemcells Inc (Google Yahoo Earnings Chart)
STSI,Star Scientific Inc. (Google Yahoo Earnings Chart)
SURW,Sure West Communications (Google Yahoo Earnings Chart)
SXI,Standex Internat Corp (Google Yahoo Earnings Chart)
TCB,Tcf Financial Corp (Google Yahoo Earnings Chart)
TCBK,Trico Bancshares (Google Yahoo Earnings Chart)
TCL,Tata Communication Ltd (Google Yahoo Earnings Chart)
THOR,Thoratec Corporation (Google Yahoo Earnings Chart)
TOWN,Townebank (Va) (Google Yahoo Earnings Chart)
TRST,Trustco Bank Corp Ny (Google Yahoo Earnings Chart)
TSYS,Telecommunications Systm (Google Yahoo Earnings Chart)
TWP,Trex Co Inc (Google Yahoo Earnings Chart)
UAUA,UAL Corp (Google Yahoo Earnings Chart)
UBSH,Union Bankshares Cp Co (Google Yahoo Earnings Chart)
UBSI,United Bankshares Inc Wv (Google Yahoo Earnings Chart)
UFI,Unifi Inc (Google Yahoo Earnings Chart)
UMPQ,Umpqua Holdings Corp (Google Yahoo Earnings Chart)
USNA,Usana Health Science Inc (Google Yahoo Earnings Chart)
UTI,Universal Technical Institute (Google Yahoo Earnings Chart)
UVSP,Univest Corp Pennsylvania (Google Yahoo Earnings Chart)
VASC,Vascular Solutions Inc (Google Yahoo Earnings Chart)
WAL,Western Alliance Bancorporation (Google Yahoo Earnings Chart)
WFC,Wells Fargo & Co New (Google Yahoo Earnings Chart)
WMAR,West Marine Inc (Google Yahoo Earnings Chart)
WSBC,Wesbanco Inc (Google Yahoo Earnings Chart)
ZEP,Zep Inc (Google Yahoo Earnings Chart)

Volatility remains high. In this week market will be focused on the election and then the seasonally strong period for markets starts.