With an improvement in breadth over the past three days the Nasdaq Summation flipped to a buy signal. Follow through is the key…
With most mid-term breadth indicators in sell signals, the market has been struggling to keep any gains over the past week. During these periods, the best of breakouts will punish any buyers with a promising surge one day only to give it all back the next.
Until we see a breadth thrust on the Stock Bee daily breadth indicator, cash seems like the safest place. If you are bold enough to take some swing positions, chose your entries carefully and honor your stops.
Looking at breadth comparing sector to sector we can see concentrated selling in the semis over the past 10 days. Click the screenshot below for details.
Top 5 Sectors ranked by number of stocks down 4% or greater.
| SectorName | FourPercentUp | FourPercentDn | UpdateDate |
| Technology | 1 | 18 | 4/4/2012 |
| Gold | 0 | 12 | 4/4/2012 |
| Independent Oil & Gas | 1 | 10 | 4/4/2012 |
| Healthcare | 0 | 7 | 4/4/2012 |
| Basic Materials | 0 | 6 | 4/4/2012 |
