Tricky period for breakouts

The breadth has steadily deteriorated in last one month. Currently the Stockbee  Market Monitor is in negative territory.

The stocks leading the advance since brexit bottom are showing signs of breakdiowns. The breakouts do not have enough follow through.

But as of now the market overall is down only around 2.5% and looks to be in sideways range.

The election results might be the catalyst that will clarify market direction and launch year end rally.

No comments: