Series of bad earnings | stockbee


Series of bad earnings

Series of bad earnings on large stocks and especially technology stocks have put the bounce attempt under pressure. After attempting to make a high the market failed. However indexes are still near recent high and the breadth trends have no sharply deteriorated. 

But the action on momentum stocks indicate likelihood of a correction. Most stocks that were ranked high by momentum have had range expansion to downside. Such range expansions do not reverse easily.

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