Excellent recovery in indices.....

Last 6 trading session saw support and major recovery.

Here are some of the tabulation of 2 major index :

S&P 500 went down 11.84% in 10 trading days, has recovered from the lows 8.75% in 6 trading days, all the stats are taking absolute highs to absolute lows in both direction.

Nasdaq went down 11.66% in 10 trading days absolute highs to absolute lows to Friday's high. and have recovered from lows 10.14% in last 6 trading days...taking

Based on my recollection, this could be the fastest selling and fastest recovery in historical terms.

SO...what is the message of this market.......

It went down on " overbought conditions with huge profit to be booked "

It recovered fast because selling was overdone when we breached 200 DMA in 10 trading days...

Biotechs and industrial metals stocks are two of the strongest sector...

Russell and Sox are showing relative strength.....

Does market need a rest now and go sideways or will it pull back to half of its recent gains.....these are the possible scenario we may face.

I will hope that it goes sideways with 2% pullback from recent highs.

No matter what market does, it is important to stay involved in strong behaving stocks, NFLX and AMZN are behaving the-best

NVDA made a new intraday all time high of $250 on Friday..only stock to do that......

There are many stocks which are on the verge of many series of new all time highs, those are the ones to be involved with, this is a market of strong stocks which cannot be ignored.

SO...take a look @ your portfolio again and see where adjustment can be made, last 6 trading days was a tell tale of strength or weakness.

Good luck with your own take of this market and your own comfort level.

BLOG does NOT give buy or sell.

Saleem