Situational Awareness

Market started the year with a bang, going down from first trading day onward. After many months we have witnessed a good broad based correction.

The small caps have lead the downside. They have been in downtrend for months.

As you can see T2108 and T2107 are now at levels where 90% of stocks trends have been demolished.

The MM primary indicator also reached extreme readings below 200. The demolition of trends will set us up for the next bull phase.

Market rallies that start after a bottom is reached after such big demolition jobs tend to be long duration 12 to 18 or more months rallies.

At some stage this year we will see big rallies in all kinds of markets , emerging markets being the most likely place for some of them as they are down most.

In short term we will likely have volatile consolidation. It is still not ideal environment for swing trades. But breadth will show you the future move direction.

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