Stubborn range breaks

From July high the markets have dropped between 13% to 28%. The Nasdaq 100 is leader in relative performance as of now.

The first part of the move was swift. After that market has formed a wide and volatile range for last few months, that range is now broken on some indexes.

If the down move leads to panic and extreme bearishness then we might get a reflex bounce. Sentiments have remained bullish during most part of this correction. That is not good sign.

If you had good risk management strategy, you would not have suffered during this correction. The breadth based indicators have worked very well in anticipating this correction and have not been fooled by reflex rallies. When the market turns the breadth based tools will signal that. Here is what one of the recent member had to say about the market breadth based indicator Market Monitor (MM)

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