Market Breadth is very positive. We haven't seen negative Breadth since Dec 20. I certainly don't see any major selling in the market since then as well. Looking at the price bars since Dec 20, I dont see major supply pressure and I see demand coming up very strongly.
I am seeing some big cap stocks breaking out of the resistance which is a strong sign. So far nothing to worry about in the big cap stocks as well.
Next minor resistance level seems to be at 1336 level. If market tries to go up with this kind of a force, I don't see that level will have much affect. The next big resistance we have up against S&P is 1350 level.
I am still bullish with this market until we see close blow 1290 or we suddenly get major selling.
I am seeing some big cap stocks breaking out of the resistance which is a strong sign. So far nothing to worry about in the big cap stocks as well.
Next minor resistance level seems to be at 1336 level. If market tries to go up with this kind of a force, I don't see that level will have much affect. The next big resistance we have up against S&P is 1350 level.
I am still bullish with this market until we see close blow 1290 or we suddenly get major selling.
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