You can also see some deterioration in individual stocks when you take a look at how many stocks are up or down more than 13% or more in the last 34-days. Stocks up 13% or more have fallen off a cliff, and we have seen a slight uptick in stocks down 13% or more in the last 34-days.
I think it is too early to make anything significant out of this, but it's noteworthy to see how it develops.
Here's our watchlist for today;
We have an interest in these stocks on the long side if and only if they go through yesterday's high plus ten cents. $EXAS $JAZZ are two stocks that recently gapped higher based on news, and now they have digested the news and can possibly resume higher.
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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 fzorrilla@zorcapital.com or 646-480-7463.
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