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This week saw a huge shakeout in the leadership stocks with numerous tech and healthcare stocks dropping up to -20% in a just a few days from their highs. However, there is a chance that it was just a shakeout by the markets in order to let the larger players load up on the stronger stocks at a lower price. But this opinion now needs confirmation, as although some traders jumped back in immediately on the assumption of a shakeout. The price action of many stocks that got hit failed to recover with much strength, and still closed the week significantly lower than the previous week, even though they recovered half or more of the drop.

A wild day in the market with multiple stocks running stop losses before reversing into the end of the day. So a potential shakeout day. But it will need confirmation of a higher close than todays high in those stocks that were hit in tomorrows trading, or the recent weakness in them could resume.

Another big gap up at the open day that then spent the rest of the day grinding sideways and lower. The Nasdaq 100 even went negative by the close. There was a lot of rotation with small caps leading in all the sectors that have been underperforming, while the leading sectors such as gold miners and growth stocks took a beating.

It's been a while since I've shown the effective volume charts from www.effectivevolume.com but thought it would be interesting to look at them again.

For the watchlist from my weekend scans. A number of Semiconductors stocks in the list, and very Technology weighted overall.

Stock Indexes continued higher for another week, with small caps showing the most strength, as a number of the previous leaders struggled. But some laggards got a boost, so are we seeing some rotation into the weaker areas of the market.

A very small list tonight for the watchlist, as there was a lot of weakness in stocks today. Closing near the low of the day in the major large cap indexes.

There was another fairly big list to go through tonight, which I refined down to a few of the more interesting stocks. Good to see some volume pickups in most.

Gold miners dominate the watchlist again tonight, but an honourable mention goes to SPOT that I've highlighted multiple times over the last few weeks. Today it finally made the Stage 2A breakout attempt from it's one and half year base...

There was a massive list of stocks to go through tonight, but the quality was very low, and so I actually ended up with a smaller final list.