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:

RDEN
AAPL
VAC
TWER
CKEC
PHH
ACTV
XPO
RUTH
AMCX

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