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Breadth bounces back a bit

The market continues to be in a range bound correction phase. The Worden T2108 indicator dropped to 20 from a high readings of 88. In last few weeks it has climbed back to 60% level. So as of now 60% of the stock in Worden universe are above their 40 day moving average.

On our breadth model the breadth has been below average for a sustained rally. As of now we do not have a breadth thrust. Most rallies start with a big breadth thrust of 2 plus in their first few beginning days. A series of big breadth days can change that.

On individual stocks some setups look attractive on selective basis. Some of the stocks likely to breakout in next few days are:

  1. RDEN
  2. AAPL
  3. VAC
  4. TWER
  5. CKEC
  6. PHH
  7. ACTV
  8. XPO
  9. RUTH
  10. AMCX




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Stocks likely to breakout

Stocks likely to breakout in next 1 to 5 days: AGEN TWER AOL IPAS VAC RDEN RUTH COF BV RNDY

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Some emerging setups

Stocks holding up well during correction and may breakouts soon: JAH PNR SWHC SHFL ORIG UNIS INFI TWER PACR VAC U...

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Under the hood lot more selling

Under the hood lot more selling and breakdown on leading stocks. Stocks holding up well are now crumbling. There seems to be absence of buy...

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Today marks the beginning of next earnings season

As expected the market did not follow through on downside after overnight gap. That indicates likelihood of sideways market. Today also mar...

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Task cut out for pullback buyers

Market is in correction mode. So far we have had only breadth divergence , we have not seen big day of selling. No big 300 plus day to down...

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See-saw action

See-saw action. For last 10 days the market has been making attempts at b/o and b/d and failing. The next earnings season is fast approachi...