Needs to break the range | stockbee

5/31/2011

Needs to break the range

For last 4 months market is range bound. It is trading nears its recent 6 month high but has had trouble breaking to the upside decisively. The downside moves have been sharp and they have been followed by 8 to 10 days bounces which have petered out.

What we need at this stage is a big breadth supported bounce. If that happens then market might rally for few weeks.

The sideways market is creating some nice sideways bases in many stocks, all that is needed is one push higher. 

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