Entrepreneur
Kurra Bewarse Username: Entrepreneur
Post Number: 3386 Registered: 05-2011 Posted From: 65.35.45.47
Rating: N/A Votes: 0 | Posted on Friday, March 05, 2021 - 9:44 am: | |
Sellers have been dominating most of the market here this first week of March, knocking the Major Indices and most Sectors below their 50-day moving averages. This is reflected by the increasing number of results among bearish scans like Wide Range Breakdowns, Power Downs, and Oversolds lately. Note there are handful of "inverse" ETFs that are on the Wide Range Breakout results, confirming the rush into protection and bearish bets. There still are some bright spots in the market, namely among Financials, Energy, and Industrials. Pullback Longs among leading sectors should set up for interesting buying opportunities as long as those uptrends hold. Internals/breadth should be evaluated to determine which set-ups will offer the greatest probability of success. Tracking sector and industry performance can also help significantly. Take the time to scroll through the charts and find those candidates with recognizable and clear technical patterns. Note on days where one particular scan results in too many stocks (20+), then those names with lower volatility and volume will be filtered out. |