Gaps and breadth | stockbee


Gaps and breadth

Another gap down open. In last 5 days gaps have been common. But the intraday follow through on gaps has been absent. Gaps have lead to weak turnarounds.

The underlying breadth patterns are bearish.

As long as breadth patterns continue to be bearish weak bounces are not going to help much. A breadth flip from negative to positive will signal change in market direction. As of now there is not enough breadth thrust for that.

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