No major follow through on selling

No major follow through on selling

September 3, 2009

• No follow through on selling.
• A light rebound as new sectors started rallying.
• Gold was the major theme today.
• Dip buyers were active in many stocks.

	Market Monitor Market monitor is market breadth based market timing tool		Current Readings Market is in correction.
Type	Indicator	Value	Comments
Daily	# of stocks up >4% on high volume	148	19 stocks with 100 million plus dollar volume.(M$V) Sector trend Gold : abx gg nem aem auy kgc gold gfi slw That is lot of money flowing in gold sector Health insurance: UNH and HUM
Daily	# of stocks down>4% on high volume	81	No follow through selling. 5 stocks with 100 million plus M$V
Primary	# of stocks up >25% in a quarter	1531
Primary	# of stocks down>25% in a quarter	383
Secondary	# of stocks up> 50% in a month	7
Secondary	# of stocks down>50% in a month	0	In ideal scenario you would want this to climb to 20 so that you can then expect a counter trend bounce.
Secondary	# of stocks up>25% in a month	46	Rapid deterioration in this. Highest readings was 875 in last 20 days.
Secondary	# of stocks down>25% in a month	52	.
Primary fast	# of stocks up>13% in 34 days	1460	This will be the first ratio to turn negative in correction.
Primary fast	# of stocks down>13% in 34 days	1095
MMA+	% of stocks in confirmed uptrend	52	Rapid drop from 71 to 52
MMA-	% of stocks in confirmed downtrend	17
10 day cumulative breadth ratio	#of stocks up> 4% in last 10 days/ #of stocks down>4% in last 10 days	1.31	A reading of below 0.5 on this will confirm bearish trend.