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Market Breadth Correction Progresses To Neutral
An update to my post back in mid-September pointing out that a market breadth driven correction was on the way.
Here are the updated custom market breadth charts for Dow, S&P500 and Nasdaq 100.
At this point the breadth overbought condition is neutralized. To form a proper market bottom, more time is needed to push the market breadth readings into oversold territory. This may take one to three weeks depending on how the market is reacting to the current price levels.
One thing for sure is that the volatility will continue to stay at a higher level throughout this period.
For our premium members, they are forewarned about this correction with 5% and 8% pullback targets realized over the past 2 days. For those who do not want to miss the upcoming great trading opportunities, sign up now to become a premium member today.
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