It is a very slow day. As of now only 66 stocks are up 4% plus and 27 down 4% or more. Market has formed small range in this area and it continues to churn. The dip buyers have been active pushing the tape around. As of now this looks still like a garden variety correction/consolidation with possible more upside.
Bloomberg had a big piece on how the short interest is at very high level. So squeeze may not be far off. Buying dips continues to work and it will take repeated failed attempts for the dip buyers to give up.
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