In a long running bull market there are many tops | stockbee

3/22/2012

In a long running bull market there are many tops



In a long running bull market there are many tops and then ultimately "the top". Every dip in a market is a top till the market does not take out the high. As of now market is extended and so a dip will not be out of character. But it may not be the signal of "the top". For that we need to see lot of distribution and failed breakouts.

The underlying moves and accumulation patterns look extremely good and similar to patterns I have seen on long running bull moves. Unless that changes I will continue to believe in buying dips. A correction will setup stocks for next up leg as long as it is mild correction. 

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