The charts below tell you the whole story; CLICK TO ENLARGE.
STOCKS PRINTING FRESH 1-MONTH LOWS.
STOCKS PRINTING FRESH 3-MONTH LOWS.
STOCKS DOWN 13% OR MORE IN THE LAST 34-DAYS.
Based on the number of stocks down -4% or more versus the number of stocks up 4% or more on a daily basis you can clearly see that there has been more distribution than accumulation.
Here's the bottom line; you have to give the benefit of the doubt to the bulls, it has been a losing proposition to side with the bears. However, there is time to press, and there is time to sit back. The best thing to do right now is to look at stocks that reacted well to their earnings release, find out why and put them on your personal watchlist to buy when they set up technically, for example; GRUB, and TWLO.
STOCK OF THE WEEK RECAP
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at firstname.lastname@example.org or 646-480-7463.
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