The cluster of Expert Ratings to the upside starting November 16th, right at the cusp of an 8% correction in the Dow 30 Index have born fruit. Almost 2/3rds of the correction has now been erased. Despite warning signs in the AIQ Market Log of a huge inbalance of unconfirmed ratings to the downside (US 1-99, see below), the market continues to drift higher.
Other points to note.
The US 1-99 rating is based on the component stocks of the S and P 500. 99% of the stocks that received an unconfirmed Expert Rating were to the downside.
The group/sector analysis reveals the majority of groups are still trending up and the trend is continuing.
Leading groups like Retail (Drug Stores) are up over 10% from the November low.