On graph it looks like a consolidation between 1366 and 1375. As I said earlier, we have selling building up in this market. This shows market is loossing little momentum here.
Market breadth is showing little selling in the market but not heavy enough to worry. But worry part is the overbought-oversold ratio. I am little worried with that ratio. That ratio went significantly low yesterday. I am looking forward to closing some of my positions here or have tight stops so I don't loose my profits if market goes down from here.
Looking at the market recent behavior, pullback or consolidation looks like a possibility. Market may go up higher but for me this is a weakness in the market. If market proves me wrong then I will enter again in my positions. I don't have problem entering back in but I have problem loosing my money when I know little weakness is there.....
Market breadth is showing little selling in the market but not heavy enough to worry. But worry part is the overbought-oversold ratio. I am little worried with that ratio. That ratio went significantly low yesterday. I am looking forward to closing some of my positions here or have tight stops so I don't loose my profits if market goes down from here.
Looking at the market recent behavior, pullback or consolidation looks like a possibility. Market may go up higher but for me this is a weakness in the market. If market proves me wrong then I will enter again in my positions. I don't have problem entering back in but I have problem loosing my money when I know little weakness is there.....
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