Big cap stocks are not showing major sign of weakness. Most of them are having followups and yes they are little extended.
Market breadth is also not showing any weakness and I look for heavy dollar volume sales and negative breadth for market reversal at this point. Since Dec 20, after each breakout, S&P is having 4-5 days of consolidation before making a another breakout. That means after every breakout, it is digesting supply before making a move up which is a strong sign of this market.
I am still bullish with this market until we see close blow 1290 or we suddenly get major selling.
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