Market had a approximately 8% correction from the high. The correction knocked down most leading stocks.
Now market has been attempting a bounce back. The last 6 trading days have seen steadily improving breadth.
V kind of bottoms tend to be rare. As you can see in last 4 years , the corrections have taken some time to play themselves out before sustained up moves. Which might mean this correction will need some more time to play itself out.
Another noticeable thing in last 4 years has been steadily declining magnitude of the successive rallies. As you can see the biggest rally was from 2009 bottom, since then each of the rally has had shorter duration and smaller and smaller moves.
Now market has been attempting a bounce back. The last 6 trading days have seen steadily improving breadth.
V kind of bottoms tend to be rare. As you can see in last 4 years , the corrections have taken some time to play themselves out before sustained up moves. Which might mean this correction will need some more time to play itself out.
Another noticeable thing in last 4 years has been steadily declining magnitude of the successive rallies. As you can see the biggest rally was from 2009 bottom, since then each of the rally has had shorter duration and smaller and smaller moves.
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