Task cut out for pullback buyers | stockbee

4/09/2012

Task cut out for pullback buyers



Market is in correction mode.

So far we have had only breadth divergence , we have not seen big day of selling. No big 300 plus day to downside yet.

Today might change that as the market is gapping down. But I would not hang my hat on that. Would not be surprised if the dip buyers step in aggressively. So far that has been the pattern.

We will know by end of the day. I woulds be surprised if pullback  buyers do not step in to stabilize the market here.

On individual stock level, as of now the setups still look bullish with most stocks going sideways after first up leg. 

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