The sideways pattern remains | stockbee


The sideways pattern remains

  • The sell offs do not follow through.
  • The buying lacks vigor.
  • So the sideways pattern remains.
  • Since 10th August the market has been in tight range.
  • Attempts at corrections have been unsuccessful.
  • Attempts at making new high has been partially successful.
  • It is a tricky market. There are opportunities, but you need to be nimble.

Market Monitor
Market monitor is market breadth
based market timing tool

Current Readings
Market in correction.

Type IndicatorValue Comments

Daily# of stocks up >4% on high volume24319 stocks with 100 million plus dollar volume.(M$V)
Sector trend

Daily# of stocks down>4% on high volume 19No follow through selling.
1 stocks with 100 million plus M$V
Primary# of stocks up >25% in a quarter1796
Primary# of stocks down>25% in a quarter283We keep hovering between 200 to 350 range.

Secondary # of stocks up> 50% in a month7 Not many large moves happening currently.
Secondary # of stocks down>50% in a month0
Secondary # of stocks up>25% in a month53Back in positive territory. But again not many big moves.
So post breakout many stocks are going sideways.
Secondary # of stocks down>25% in a month20.
# of stocks up>13% in 34 days1680
# of stocks down>13% in 34 days757
MMA+% of stocks in confirmed uptrend57Rapid drop from 71 to 57
MMA-% of stocks in confirmed downtrend 18
10 day
#of stocks up> 4% in last 10 days/
#of stocks down>4% in last 10 days
1.17A reading above 2 will signal bullish breadth thrust.
A reading of below 0.5 on this will confirm bearish trend.

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