<b>Market View for 31.May.2010 to 04.Jun.2010</b>
<u>S&P-500 Daily % Change:</u>
<b>Fri, 04.Jun: -3.44%</b>
<b>Thu, 03.Jun: 0.41%</b>
<b>Wed, 02.Jun: 2.58%</b>
<b>Tue, 01.Jun: -1.72%</b>
<u>No. of Stocks above 40 EMA*</u>
<b>Fri, 04.Jun: 13%</b>
<b>Thu, 03.Jun: 32%</b>
<b>Wed, 02.Jun: 26%</b>
<b>Tue, 01.Jun: 13%</b>
<u>No. of New Six Month (26 weeks) Highs*</u>
<b>Fri, 04.Jun: 9</b>
<b>Thu, 03.Jun: 68</b>
<b>Wed, 02.Jun: 24</b>
<b>Tue, 01.Jun: 20</b>
<u>No. of New Six Month Lows*</u>
<b>Fri, 04.Jun: 149</b>
<b>Thu, 03.Jun: 15</b>
<b>Wed, 02.Jun: 100</b>
<b>Tue, 01.Jun: 103</b>
The week started out on a sour note but things seemed to slowly and steady improve. Thursday was a good which confirmed that the breadth of the market was improving.
And wallah comes Fri which has brought down all the gains from the last 2-3 weeks. The volume was above average and a lot of money seems to have flowed outwards.
I do not believe in speculating but this is not looking good. Majority of my 25 indicators are signaling strong bearish symptoms.
We need buyers to step in this coming week.....
______________________________________________________
*The stats above were calculated on the top 3000 stocks by liquidity(not market cap).
<u>S&P-500 Daily % Change:</u>
<b>Fri, 04.Jun: -3.44%</b>
<b>Thu, 03.Jun: 0.41%</b>
<b>Wed, 02.Jun: 2.58%</b>
<b>Tue, 01.Jun: -1.72%</b>
<u>No. of Stocks above 40 EMA*</u>
<b>Fri, 04.Jun: 13%</b>
<b>Thu, 03.Jun: 32%</b>
<b>Wed, 02.Jun: 26%</b>
<b>Tue, 01.Jun: 13%</b>
<u>No. of New Six Month (26 weeks) Highs*</u>
<b>Fri, 04.Jun: 9</b>
<b>Thu, 03.Jun: 68</b>
<b>Wed, 02.Jun: 24</b>
<b>Tue, 01.Jun: 20</b>
<u>No. of New Six Month Lows*</u>
<b>Fri, 04.Jun: 149</b>
<b>Thu, 03.Jun: 15</b>
<b>Wed, 02.Jun: 100</b>
<b>Tue, 01.Jun: 103</b>
The week started out on a sour note but things seemed to slowly and steady improve. Thursday was a good which confirmed that the breadth of the market was improving.
And wallah comes Fri which has brought down all the gains from the last 2-3 weeks. The volume was above average and a lot of money seems to have flowed outwards.
I do not believe in speculating but this is not looking good. Majority of my 25 indicators are signaling strong bearish symptoms.
We need buyers to step in this coming week.....
______________________________________________________
*The stats above were calculated on the top 3000 stocks by liquidity(not market cap).