The bounce has not been strong enough to flip the primary breadth indicator to positive side.
The stocks up/down 25% in month is showing divergence. In rally it should be positive but it is showing big breakdowns.
The 50% plus also similar. With 13 stocks down 50% and only 8 up 50% plus in a month.
The breadth trends so far are not in line with past bottoms and rallies coming out of bottoms. Rallies out of bottoms tend to be very big and broad based, this one is very narrow based.
No comments:
Post a Comment