Are we following the same pattern since start of the bull move on Dec 20th? Probably yes, breakout and then consolidation.
Market breadth is building light negative breadth since last couple of days but its nothing big to worry about. We are still in bull market until proven otherwise.
Overbought-oversold ratio is turning low again, that means many stocks are topping out and they are pulling back or consolidating against some resistance. We can easily find many extended setup in this market. I will be worried to take any breakout trade at this moment.
Big caps are not showing much movement expect they are either pulling back or topping out.
I am going to be looking into pullback trade or stocks under heavy accumulation.......for long setups
Trade safe and keep your stops.....
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