Digestion after a big bounce. That is likely scenario today.
As widely expected by most market participants finally Santa showed up. It was a big snap back rally after market had been oversold for sometime. And it came in after many had given up hope. The underlying breadth was good.
Going by this years market history I would give the move a 7 day benefit of doubt as long as breadth holds. Moves since February have been of at best 2 week duration.
Volume would be low as many participants will be in holiday mode.
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