Correction mode | stockbee

4/05/2012

Correction mode

Market has entered a correction mode for some weeks. As of now breadth is still holding up well and there has been no major breadth thrust to downside. The next earnings season is upon us so we will likely go sideways in to it. The individual stocks earnings will determine their fate.

This correction is good as it will result in the overbought condition getting corrected. A series of 300 plus breadth day to downside will put rally under pressure. Underlying setups still look attractive.

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