Stockbee: Some improvement in breadth

Some improvement in breadth

September 22, 2015

The big drop in August is now few weeks old and during that drop breadth reached extremely negative territory. You can see that in Number of stocks up 25% in a quarter, those readings reached a low of 179 on 24th August. Readings below 200 are rare and indicate extreme bearishness.

Sine then there has not been any sustained big selling . Many stocks have bounced back on weak action. For a new trend to establish a big and sustained buying pressure is needed. Absent that we might get volatile range bound action.

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Some improvement in breadth

September 22, 2015

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