The trend continues

We continue to be in a down move and there have been days without counter trend bounce. The oversold market is so weak that it can not put together a tradable rally. The selling is slow and not panicky. Last week for a day it looked like some panic is setting in but the reversal on Friday in final hours ensured that there will be not much panic.
The Market Monitor primary indicator (25% plus in a quarter) is currently at 540. For it to reach 200 it might take more than next week. So going long is a risky proposition as of now.
The sectors currently holding up well are:
- MG113,Agricultural Chemicals
  MG132,Copper
  MG352,Tobacco Products - Other
  MG732,Discount - Variety Stores
  MG738,Auto Parts Stores
  MG741,Sporting Goods Stores
  MG745,Auto Dealerships
  MG826,Healthcare Information Service
  MG834,Semiconductor-Integrated Cir
  MG850,-Internet-
  MG852,Internet Information Providers
Sectors currently in downtrend are:
- MG328,Office Supplies
- MG417,Regional-Pacific Banks
- MG425,Credit Services
- MG431,Life Insurance
- MG444,Reit-Hotel/Motel
- MG447,Reit-Retail
- MG523,Health Care Plans
- MG629,Textile Manufacturing
- MG633,Lumber / Wood Production
- MG712,Resorts & Casinos
- MG771,Major Airlines

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