A persistent rally has taken hold and for several days now there are 100 plus breakouts in my scan universe. The 65 day bullish.bearish ratio is hovering in the high correction probability zone for few days now. The 50% plus in a month indicator has deteriorated and has only 7 stocks as of today.
The strength is market and on individual stocks has been relentless. However few stocks are making blowout 50% plus move in a month. Last time when the market topped the 50% plus indicator had dramatic expansion and the number of stocks hit 25 plus level and then collapsed.
So any correction here will be sudden and vicious. The biggest risk for most traders who have capitalised from the rally is to protect profits. So duel priorities need to be balanced. There are fresh opportunities a galore at the same time in last 5 weeks of this year alone the returns are extremely good. A vicious and sudden correction can knock out lot of that profitability.