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| 10 Day Buying-Selling |
During correcting markets it is not uncommon to see multiple days with intraday swings in excess of 2% on the indexes. While it was positive to see multiple indexes close near their highs with 2-3% moves at the end of Friday's session, it was more promising due to broader based buying. One means in which I keep track of that is the differential between buying and selling of stocks over a 10 day window. What has occurred over the past two weeks is one of the lowest readings since I've been tracking this swiftly become positive.
This positive can also be seen in the new leadership scans run which were showing 99 stocks at the end of last weeks session plump up to 368 this week.
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| New Leaders 338 |
While some of my shorter term scans are perking up and my belief is that in the least a tradeable bottom is now in place, the next step is waiting for my momentum scans on my time frame to plump up along with stocks setting up favorably to increase.
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