Every once in a while I will sit down for an hour or so and analyze every company in the S&P 500 to determine how many companies are bullish v bearish and what type of patterns are they in. This tells me a couple things:

1) The strength v weakness in the market as the SPX is the index that I analyze to determine my market bias

2) Companies I am looking to trade both on the bullish and bearish direction.

This is the 3rd time this year I have done this and the results are quite telling or perhaps disturbing if you only invest in long stock or have a 401k.

Some things that stood out

1) the Majority of the stocks I analyzed in the SPX were bearish

2) the number 1 pattern was the bearish retracement which is a corrective wave in a downtrend. This is not shocking given the market activity over the last week

3) Very few over-extended stocks on either the bull or bear side which basically means neither the bulls or the bears are dominating.

4) Many of the stocks in the bearish retracement where slowing with some confirming.

Bullish Retracement Requirements

Bullish Breakout Requirements

Bearish Retracement Requirements

Bearish Breakout Requirements

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